I have numerous connections to agents, mortgage brokers, and most importantly a father who owns a construction company in the area, so I really want to focus on this particular submarket. 

there seems to be numerous pre-purchase analysis software programs for creating a pro-forma for multifamily Acquisitions, available in the market.

They are much more numerous so they will sway the market.

@Andrew SavikasThe problem with a "diversification of notes" approach is that it doesn't take into account numerous factors such as risk types, market types, correlations, etc.

Welcome to BiggerpocketsYouve come to the right place for help.there numerous threads and podcasts on getting started.Many start with savings for down payments

Some were better than others, but they all had elements of it that I didn't agree with, or lacked that I thought was important. 

Consequently, you need to find out who really gas exoerience with this technique.You need to determine and satisfy all the elements for AP in NM then go to court with your prove-up documents at your Quiet Title Action court hearing. 

I don't know how you can avoid an HOA since there are commonly owned elements outside of the structure. 

There are numerous risks that those flipping houses face, that buy and holders do not, most obviously market risk (cycles) and time/delay pressure, but also people management (contractors) etc.

Otherwise you have a big gaping hole that allows the elements in.This summer I have had 4 swamp cooler related phone calls that required rapid response.