We are seeing much longer wait times on purchases to be cleared for disbursing funds than refinances.

Do you have a track record of purchasing and operating real estate on your own?

Let's assume the financials in the package are good for a moment (they probably are not) AND that you either do not or do achieve the broker's pro forma:If you purchase this asset, achieve ONLY the 'current' NOI, grow NOI 2% per year, and exit at a 5% cap at the end of Year 6, you will have a 4.8% unlevered IRR. 

Purchase price: $360,000 We bought this stacked duplex, lived in one unit for 2 years and moved on.

So, you can do a land contract for 12 months, which should allow lender to credit you full value of the land vs the purchase price, but the loan will pay off the land contract, so the lender maintains first lien position.Can't help you with the rest of your question, but you should be able to search for "CPA" here on BP to find experts to reach out to.

Step 1: Ensure you can get financing (is it a cash purchase or will you need a loan). 

Purchase price: $205,000 Cash invested: $60,000 This was the first property I purchased.

If I act as my own realtor and end up purchasing a property and receive a commission does the broker I'm affiliated with get a piece of that?

As we all know, you are really paying for the commission in the purchase price. 

So pretty good equity position within a year plus cash flowing well based on a $325k purchase price.