The guides/blogs/books that I've read and the webinars I've attended are outstanding and helped me learn so much. 

I have huge goals for myself:Multifamily units, NNN, subdivisions nationwide and more.For now, I provide off-market commercial property deals for people like yourself nationwide straight from hedge fundsWhat do you suggest would be a good transition for me into owning for myself?

Unused contingency funds, unless they were received directly from the borrower, must be used to reduce the outstanding balance of the renovation mortgage after all of the renovation work has been completed and the certification of completion has been obtained.The loan is not re-amortized.Draw Schedule: HomeStyle program has a maximum 4 draw process.The initial draw can be up to 25% of the total project and can be for materials for the project.The final draw will be at least 10% of the total project as retainage and funds will be released upon  receipt and approval of final inspection, Certificate of Completion from Appraiser, signed All Bills Paid Affidavits and Lien Waivers.Additional Draw Information: Signed Draw Request by borrower and contractorSigned All Bills Paid Affidavit review and approve the draw request and will release funds for disbursementA check will be issued in the name of the borrower and contractor and delivered to borrower via USPSAn inspection of work to date will be performed at 50% completeFinal Draw Information: Signed Draw RequestFinal inspection/Completion Certificate will be required for release of final fundsA Title Update showing property free from lien or encumbranceGeneral Contractor’s Lien Waiver AffidavitAffidavit of Completion will review and approve the draw request and will release a check in the name of the borrower and contractor.Change Orders and Cost Overruns: Changes to the initial plan are not permitted unless prior approval.

If you have outstanding consumer debt (engagement ring) and don't have enough cash to put down 3.5% on the property then you would be playing with some very tight margins with no room to account for unexpected expenditures early on such as an HVAC breakdown, unexpected eviction (if you buy a property with tenants in place) etc. 

The local code enforcement officer can alert you to any outstanding compliance issues or any violations outstanding. 

What to look for on the outstanding loans and the do's and don'ts when investigating and purchasing these properties.

@Andrew Flora nailed it.I would just reemphasize living below your means and avoiding personal debt (student loans, outstanding cc balances, car payments, etc) as much as practical.Personal debt is bondage and will drastically limit your freedom.Highly recommend picking up the oft-recommended Richest Man in Babylon and Millionaire Next Door for easy and fascinating reads on living within your means and really getting ahead.

If you have good credit score and a low debt to income ratio, the possibilities are outstanding to get a conventional mortgage, just like your primary house, maybe a little bit higher on interest! 

Personally, I would send them a certified letter that references your state laws, and let them know that you expect a statement showing that your $2,700 deposit is being applied to the outstanding charge of $2,850.

Can someone recommend a creative hard money lender in NJ or one that provides funding nationwide?