Calvin Lee,You won't really find a 7 cap Dollar General in a strong suburban to urban core location unless limited years remaining on primary lease term and mostly cash deals or very small financing.The brand new Dollar Generals with upgraded construction all around in strong suburban to urban core areas tend to sell for 5.75 to 6.4 caps with new leases in place.The 7 cap new Dollar Generals tend to be in crap areas weak suburban to rural and cheap construction and many times on septic systems instead of county or city sewer.Every once in awhile in a strong location there might be a 7 cap with 10 years left on a high end Dollar General at 3 million in price or up.These have no rental increases in primary lease term so year over year your income dollar becomes worth less and less.

Recently upgraded to pro account and tried using the "find deal" tool.

Your savings is good, but your income won't support that many properties if you do them wrong and need to carry 15k min reserves for each one.Focus on what the next property should be, maybe upgrade to a two-family and see how that goes.

I would offer 90% of the market value. if he sells it you with no agents he is saving 6%~ on real estate agent commission and the other 4% is a convenience fee in that he dos not have to endure showings etc. and you will get better pricing on a non-owner occupied property if you put down 25% is compared to 20%.  

NY Market is very competitive, so getting a good deal might be worth the investment of being flexible with your preferences or any upgrades needed on the property; cheap houses are houses that need work or problems that need to be fixed. 

In that example, I was imagining that the investor made upgrades and improvements AFTER closing, either with their own funds, a personal loan, credit cards, etc.  

Renovating 4 units and upgrading exterior What was the outcome?

I'd like to use these to upgrade into something much larger in the next 2-4 years. 20+ units.

A distressed owner isn't about to upgrade and repair.

Prioritize high-ROI renovations such as kitchen and bathroom upgrades, flooring, and enhancing curb appeal.