This is called a BRRRR and it works on a 2 or 4 family just as well.

This has thrown me for a loop now because my mortgage payments have gone from just over 3k  to 4.5k due to the increase in property taxes as well as my insurance increase.

To start a qualified realtor who knows your market well and has a proven track record.

Essentially I want to know if the deal can be killed at my discretion as soon as lender A denies financing or if I would then have to get denial letters from lenders B and C as well to kill the deal.

The $78k value per unit and total value of $780,000 are well over many lenders' minimum requirements. 

Purchase price: $74,000 Cash invested: $30,000 Beautifully renovated 4-bedroom split-level home that features a new galley style kitchen with 42" soft close cabinets, stainless steel appliances, recessed lights, updated baths with modern vanities and fixtures, large living room that leads to separate dining room off kitchen, three spacious bedrooms on 2nd level with modern decor, large lower-level family room with ceramic tile flooring with well-placed laundry cove, and recently laid sod in front and rear of property.

I think it was well worth the money and time. 

This is also why people who put properties in a LLC and self manage think they are good - well if you as the pm do something you are the pm so you get sued so you end up liable…

If you hear that and wonder "How the heck am I supposed to find properties that cash flow well then?"

Development is one of those plays that either goes incredibly well or incredibly poorly.