We’d actually love to invest in Bergen County NJ, but the numbers just don’t seem to check out at the moment.Also, thanks for the reminder not to rush into something just to do a deal. 

Check out Tower Credit Union as one option for 100% loan to value. 

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

My client bought a 22 unit building and used this strategy and walked out of closing with a check for $800k to perform the rest of the renovations, paid himself back his already expended rehab costs and his entire down payment.  

That way you can have everything checked off before the inspector comes.

It is surprisingly easy to manage out of state and if you want more tips on how, check out Bigger Pockets book "30 Day Stay" on Mid Term Rentals. 

But after four checks they paused distributions on this fund also.

I would believe so, but it is always good to check the local laws.

The background check is supposed to identify the amount of risk, then you determine whether you can mitigate that risk or not.

Run a background check.