My main goal right now is to try and find a mentor to help fill in some gaps as I stumble through this first lesson.

I managed to track down the previous seller and informed him it was his responsibility to file a release of mortgage form and even provided him with a form already filled out for him to sign and notarize. 

We are 3 weeks in to the reno and have filled 7 dumpsters.

What I like about this deal is, the major cap ex's have been handled, and there is still meat on the bone to increase the cash flow by filling the vacancies.

It builds a scope of work and potential costs by having you walk the property and fill in a checklist.

I guess it wouldn't hurt to fill out the application and see what they have, might look as a buyer first and not as a broker ;)

Our last project is on the first page of Google for "houses for rent" in the particular city, generating ~10k leads per month, with a strong conversion rate where the lead fills out a lengthy application and pays an application fee. 

With my current financial position, the properties need to have at least 1.2 rent/value ratio or higher, be 75% of value, and $150k or less. if the numbers work out in the near future, i would like to start using hard money lenders for the down payment and closing costs on the properties, and purchase them traditionally. i would like for these properties to also have a 1.0 or higher rent/value, and with my current credit i can get approved for around $150k-$200k, so the property would need to be below that. once i fill up my 10 allowed traditional financing properties, then i would go hard money lenders for down payment / closing costs, and private financing for the long term. by that time though my own portfolio should be able to provide down payments in leu of hard money. your comments and positive feedback / critizism about my strategy going forward is appreciated. i am a brand new real estate investor, finishing up on my first hard money/refinance acquisition now, so im just getting started and looking to grow the portfolio quickly. thank you

Mentor was highly offended by my wife and I for questioning him, and replied very harshly with a long speech filled with curse words and insults, and concluded by the following statement.

To a buyer, that would mean all the units are currently rented out so you will not have to fill any vacant units.