if so, how is the performance and occupancy rate?

Proactively communicate the performance of their investment.

Especially considering this performance is over an extended period of time.  

Im wondering if it would be better for me to wait until I have the money in my bank account for a down payment, or at least another paycheck in the account (paid monthly) before I start shopping around for pre-approval letters.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

He found it challenging to get comprehensive info on their historical performance and the underlying assets.

It's up to the individual accredited investor to perform research and make an informed decision.   

This metric was the liveability and affordability metric which I cant define very objectively as median income, family friendliness of a suburb, affordability, shopping & schools and distance to major business centres comes into play.

State costs vary, but more or less should be +/- $750-1000 to get obtain your NMLS mortgage license (with courses) and most states permit dual licensing in which brokers can be legally compensated on both sides of a transaction.I'd be very cautious about performing dual capacities in any single transaction for two reasons: 1. 

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!