I'd happily accept the former, though the 16% YOY property tax increase would be a non-starter for me.

Pulling equity out of a property is another form of loan.

I have been kicked out of every form of communication relating to this deal.

Again, if there is a form of payment you do not accept, then I would line through it.All the forms can be edited.

I read "guarantees" - for me that is the biggest scam ever and right then and there either hang up the phone or delete and block the email. anytime anyone guarantees anything run and run fast.  

Consider forming an LLC for liability protection or an S-Corp for tax efficiency if flipping frequently.This post does not create a CPA-Client relationship.

I like this option better than a Wrap because for me its just easier to understand and navigate, especially if lender calls the loan.With all this being said...I am just looking for those that have direct experience with using Lease to own to get into Multifamily and Apartment building type projects.

I focus heavily on the sell side and on the buy side only work with high net worth individuals so the newbie wanting a 400k multifamily with an FHA loan probably isn't for me. 

I'm in the Tampa Florida area and it has been very accurate for me and my units. 

You really cleared things up for me when you said class A,  3-5 years cashflow .