Cannot endorse that approach.

I'd be interested in hearing more about your experiences and approach and happy to share mine. 

Well as I am approaching the next phase of my CRE journey I  was wondering if you could give some feedback on a broker package.

well first off this being a landlord site.. and a positive cash flow site generally speaking.. most will tell you are nuts to buy this.however if you can get the property to just about break even maybe lose 100 a month or so and you have a prime Socal asset that someone else is paying off your mortgage and you think rents can go up a little.and you can EAISLY self manage based on quality of the unit .. incredible tight rental market.. that mitigates a lot of land lord issues.I mean whats the alternative you go 1000 miles away to make 100 or 200 a month.. is that positive cash flow going to change your life..is 100 a month negative going to change your life.now this is an extreme.. but i owned a home in Palo Alto that i chose to sell back in 91 because it would have been 300 a month negative.. well that negative within 36 months would have been positive.. and i sold for 500k and today that home is worth 3 million.... and once it got positive it probably would have been positive up to 2 to 3k a month coming into the 2010's.... and someone else would have paid for my home.. plus grade A tenants at all times.. being prime Palo Alto.so thats one extreme.. its really only in low to no appreciating markets with tougher tenant bases that turn a bunch that positive cash flow becomes more acute or for those that want to one day live on their cash flow and be in the business of landlording.. thereby acquiring 50 to 100 doors. 

My client had approached me about possibly buying the property, but I was too young at the time, and didn't really understand how everything worked. 

Background information.  There is a very much vacant property in my town that no one has been to in years.  I looked up the owner it seems as if it's a little complicated.  Man and woman own it, however the woman pass...

How do I approach as a buyer once I have an HML backing me?

I'm curious to hear what others say but if someone approached me with that request I'd dig my heels in as hard as I could.

Let me preface this by noting that any of the individuals I would approach would be people I know quite well as I've established business relationships with them over many years at my current place of employment (since they know where I work, they can be assured I'm not going to run away with their money).

For a more passive approach but still with potential tax benefits of long term ownership I would probably invest in an outstanding sponsor's syndication or NNN commercial leases.However, if the only capital I had was borrowed from my home, I would address that issue.