Yes I have been pre approved already.

I finally got word of an approved application. 

Some of the laws in NY changed recently and you are required to obtain a certificate of no harassment, No permits will be issued until it is resolved.You will need to work with the current tenants for this certificate to be approved which can take up to a year or more, Definitely something big to consider.  

What kinda hurdles do you have to overcome to get approval, and how long is that process?

One hurdle you may have depending on location is zoning approval.

We chatted for almost an hour, he showed me around his place, and I got to know a bit about him—a really nice guy.Then, at another spot, I drove up just to look from the outside (since it was “showings for pre-approved buyers only”), but the seller came out, curious about what I was doing.

You may spend thousands of non-refundable dollars to present them with deals, but there is no guarantee of approval.

Quote from @Raghavendra Jakkani: Yes, you should screen and approve every adult living in the home, whether they contribute to paying rent or not.

@Austin TessTo buy your first multifamily property, follow these steps: get pre-approved for financing with an FHA Loan, identify a high rental demand market, choose between house hacking or pure rental strategy, analyze the property using the 1% rule, build a team, negotiate the purchase, and manage the property professionally.

The county is the second fastest-growing in the U.S. and the fastest in North Carolina.The zoning for the project is already approved, and with our captive audience of potential tenants, I’m confident that all units will be leased upon completion.I’m seeking advice on how to best structure this debt with a private investor or investors in the short term until the property is fully rented and long-term financing is secured.