Trust, but verify.  

@Andrew Postell yes I am using an exchange company and they verified that yes the replacement property does have to go into the same name the old property was in.

learn about 1031 tax deferred exchangescomplete you financial package - 3 years tax returns P&L - real estate portfolio, credit scoreexpect to be rejected by lenders and other W-2 employees - qualify lenders, bankers, mortgage brokers - ask what products they have - see if you qualify for themlook at 20 buildings before offering on any - know the SF dollar cost - keep a journalmail lots of letters (be professional NO yellow childish communications) to owners of apartment buildingsUnderstand what a CAP rate is and how to get to it - fill out your  commercial APODVerify -verify - verify all financial data given you by sellers - sellers are liars (so are buyers) trust NO One!

Obviously you need to verify that against Missouri state law but my guess is that's what you'll find.

Recently moved from Canada so I don’t have any credit or verifiable income, but can put a good down payment down (40k) cash or so.

- I am still narrowing down properties and would like to have a general contractor do a walk through to verify my assumptions.

Have you verified the rent numbers?

Verify income and do credit and background check to ensure it is being sold to the right people. 

One week before the final signing the buyer loses their job after which the loan processor calls the employer to verify employment so the deal can not close.

A quick google search could help you identify the enforcement terms during your initial due diligence but you will want to verify before you close on the note. - For closing, first you will sign a loan agreement to determine what the seller will record, how much they will expect, exactly what you are paying for, and who will service the loan.