I went to college, not that it is mandatory, and got a business degree that emphasized real estate.  

Try to explain to the seller why you are lower than the selling price and make sure they understand.I have a college degree in business that emphasized real estate.  

I also went to college, not that it is mandatory, I got a business degree that emphasized real estate.  

I just want to (re) emphasize what @Christopher Phillips said in his prior message regarding Coop Owner Occupancy...they want their owners to live there (not tenants).

So many questions that are going to be dealt with in the Operating Agreement and an attorney will have the experience to give you good advice on what is good - and what needs to be changed.If this was a 30-50k deal then i'd be emphasizing the relationship to the operators and you could probably get by without an attorney, but in this case I dont think it matters if it was your own blood brother - 350k is a big first-time investment and its well worth the few hundred dollars to hire an attorney.

Welcome to a new part of your education in rental property. a not-so-nice one they don't emphasize in the get-rich-quick real estate seminars.

The only differences are the allowable loan amounts.I followed your link and it didn't say that the 203k isn't for multifamily, it just emphasized single family homes. 

I went to college and I got a business degree that emphasized real estate.  

I went to college, not that it is mandatory,  and I got a business degree that emphasized real estate.  

I went to college and I got a degree in business that emphasized real estate.