So you're saying that getting the down payment from a partner would be my best bet?

I will consult an attorney but it sounds like long term rental may be a better bet.

And also, once I do find a property I want to pursue I am thinking hard money may be the best bet for me with where I’m at at this point in my career.

Morristown around Sussex ave/Grant st. area or western ave (if you have a big down payment) and Summit (less familiar but hear they have a lot more duplexs) are probably your best bets when looking.

If you don't want to go the partner or hard money lender route, your only bet is to put your own money and use the cash flow and your savings to purchase properties when you have the funds. 

I bet your deck replacement is a 2-3 day job, right?

I bet you find that the 5 plex is just not going to work, not in the greater NOLA area.As for lenders, you would be looking for a local bank and does new construction commercial development loans.

Given the repair needs on the building, I'd bet the renovations will be greater than $150k.

But the best bet is to go to meet ups.

It's the nature of markets that once nearly everyone is in agreement that something is a good idea, it's probably about time to take the other side of the bet.