That's kind of the feeling I got when I saw it.

If you have a handshake/wink-wink kind of deal then you should get a Promissory note at least that outlines the terms of the loan and what happens if it default, who the loan is between, and usually in agreements like this the language is broad. 

But an equity position is not recommended unless they own the dirt or bring some other kind of value. 

Regarding #2, doing house hacking, which would be probably the easiest way to purchase a property, is kind of complicated with my family so I'm trying to find another ways to purchase my first property ASAP.Finally, I hear you.

With any kind of long term investment (especially real estate) TIME is huge force.

Exiting apartments sell for 175 to 500 a unit on the open market with 200 to 250 being kind of the median. and rents on the 200 a unit range about 1400 to 1800 

@Mitchell Litam thank you for the kind words.

Definitely understand - its a challenging market right now for rates and getting purchases to cash flowWhat kind of down payment are you looking at? 

Would be nice to know a local GC here in the Tampa area that's seasoned in that kind of a task!

I assume I need Landlord Insurance or some kind of Liability Insurance for the LLC itself?