Credit unions have to have some sort of membership requirement as part of their charter, e g firefighters and their families who work in X area, residents of X county, etc.  

If someone wants to put up some of the money and be an owner than either that person doe a loan to the company in addition to his ownership or He or she can get a preferred return from the membership of the company.

At this point you would change the locks, survey the property for damages and work to be done for rent ready.

After all that is complete, then it makes sense to spend money on the inspections, surveys, contractor bids, etc.

Finally, use CBRE's 'Multifamily Cap Rate Survey First Half 2018' report to determine what cap rate stabilized properties of similar class are trading for in your area.

My background is in predevelopment, I have over 8+ years experience in permitting (residential), surveying (platting),  some commercial real estate, marketing and I'm also a real estate photographer, so I'm very knowledgable in those areas and wear many hats, but I'm clueless when it comes to the areas that follow after development.

You would need a rental survey and copy of a lease.

I seen New Jersey Real Estate Investors Group in Teaneck it’s 397$ for a premium membership for the year..

A survey is a couple hundred bucks, just get a survey

You can beat the Chinese drum all you like but even the BC government's survey proved (the survey that was used to put in draconian investment laws which resulted in the market slowing down) that "Chinese" buyers are less than 10% of the entire volume traded - in BC!