There are not many multi-family options available in my local area, and the ones that are available are overpriced or the current rent rolls are extremely below market average($200-$400 per unit).

@Glen Wiley - absolutely excellent point regarding #1.

What are my options at this point as a landlord?

Alternative options include a cash purchase, requiring significant upfront capital, or a hard money loan with higher interest rates.

You shouldn't need any umbrella insurance with Proper since they offer everything in one, but you have the option to up the liability as well.  

I know this is a long post but I really appreciate any guidance and help.Anyone in Ft Lauderdale/Miami area who knows a good contractor, I am still open to that option.

There are so many options out there when it comes to joining a firm and online you can't get a real feel of what to expect.

I have never heard of a limited-scope appraisal and will look more into this option.

Do you lean towards traditional mortgages, private lenders, or creative financing options?

Hi @Mo Nueman,Depending on what exactly you're doing/looking for, there are a few options.