In my experience, the General Contractor usually acquires the permit(s).

We have a savings account where we split up into different buckets (from our w2 and passive income) and one bucket is for real estate and when we have enough to acquire another asset we will consider it.I am not a fan of borrowing 100% of the transaction costs including closing costs as it will be extremely difficult to make money many times on those types of deals.

@Matthew PosteraroIt comes down to how much capital do you have to allocate, and how many units you are looking to acquire with your capital.

It's not about just being able to "acquire". 

My fiance and I started using rental hero once we acquired our second property.

Purchase price: $28,000 Cash invested: $47,000 Sale price: $110,000 Contributors: Peter Vekselman Partner Driven, alongside our partner Billy Medlen, acquired a home on Raymond St, Richland, MO, for $28,000 on 02/20/2024.

Locally, I look forward to soon having my VA loan seasoned to refinance and fully rent out, and acquire another property. 

To provide a practical example, I acquired a 60,000 SF assemblage that contained an autobody garage, nearly an acre of surface parking and a 4 unit building in Philadelphia.

Quote from @Isadore Nelson: I’m considering acquiring an occupied foreclosure property—a two-family home in Brooklyn, NY—and I'm hoping to connect with anyone who has experience in this area?

The majority of my rentals I have acquired were for equity not cash flow.