Wrap, or in some states All-inclusive-Deed simply is a new deed of trust that "wraps" (rides on top of an existing Deed of Trust'  signed by the new buyer obligating the buyer to making the payments or facing foreclosure by the seller. 

As much as I want to drive around I am an out of state investor looking at buy and hold MF.

If you're looking for out-of-state properties, start with turnkey single-family homes or small 2-4 unit properties while building your local network and establishing boots on the ground.

But no doubt we have to keep in mind as stated this site caters to a lot of folks starting their journey so to us who have been on the site for a minute or two it seems repetitive but to the new investor its not they dont know what they dont know.

Depending on your state, many have local lenders that will go up to 100% LTV. 

You've come to the right place, there are over 20 enlisted CPAs here in Biggerpockets working with real estate investors across different states.

Fees should be clearly stated in writing, easy to understand, and justifiable.

Check out the state of Illinois website. 

There isn't one thing.For my out of state properties, vacancies have been a nightmare.

I'm not completely foreign to the construction process as I grew up around a family that was involved in home building, but due to living in another state I can't really lean on them for the direct, hands-on guidance.