The pull for conventional loans independently comes from us getting lower interest rates and 30 year amortizations (higher cash flows) but we dont know if it will get sticky during tax season being that we arnt all on the mortgage together.

Easier to get in, bigger cash flow numbers, lower taxes, but there is less expectation for appreciation and Newark is more of a B-C area than PA which is an A area in my opinion.

All 3 tenants are paying lower than average esp the 1bd.

very very very common approach.. but agents are not going to get a seller to lower price just because they are double ending.. what usually happens is if there are multiple offers agents being human.. will slant their double ended deal .it does not equate to you getting the agent to sell the property for 25% less than what it could sell for on the open market.. agent would get in big trouble.

Your P & I would be lower resulting in improved Cash Flow.3. 

She wants to sell without an agent now and is therefore willing to lower the price.

But as Brant said above, they are lower risk and safer than mom and pop shops.Strip center's are also a great alternative and as you said, the diversity creates less risk and more opportunity. 

For owner-occupied, it can finance up to a four-plex.With this type of loan, renovations cannot exceed 75% of sales price + renovation, or the appraised value, whichever is lower.

The Seller doesn't know much about how protocol/procedures work in the real estate arena and we are trying to avoid using our RE agent to lower cost of purchase so we (my business partners and I) trying to do as much legwork as possible.

Otherwise, profits are lower, it's hard to find compelling deals, and there is little room for error in deal execution.