I’m curious what rates look like these days for a commercial apartment building around 1.5M.If any lenders could chime in or investors who have seen recent rates please share!!

So before dismissing your options, you may want to consult an investor friendly Lender who is an out of the box thinker.

I want to become really good at analyzing deals, and determine the markets I should focus on.Are there any resources aside from this forum (books, journals, news publications, podcasts) that you recommend I use to learn more?

Option 4: 20% down on 2 to 3 properties Also open to hear other ideas, I'm self employed so getting a lender can be a bit more difficult.

That is often a matter of opinion and will depend on the attitude of your municipality.Most municipalities do not require neighborhood approval, but will offer the public opportunities to provide input which will be considered.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

The narrative that these are cash flowing properties is aggressively pushed by everyone who benefits from these transactions...turn key operators....brokers....pm's but its incredibly difficult for the non hands on buyers to operate these homes for a sustainable period of time.

The owner was motivated due to personal circumstances and wanted to avoid the hassle of listing the property publicly.

Based on what you're telling me, I'd also advise you to begin the process of evicting/non-renewing the lease.

You need to have your attorney send something certified, so that the PM cant claim you didnt have "Due Dilligence" in notifying. it would be terrible for him to bring forth a civil suite for non-payment or a mechanics lien on your business/personal property in the future.