How do others manage to create positive cash flow from MF properties with debt?

These properties are generally in high demand, but on a positive there will be drastically less new inventory of competing rental properties. 

I appreciate the positive perspective of this

My one suggestion: do not conduct business with anyone (here or anywhere) without having your lawyer and maybe even your CPA reviewing all the paperwork.Also, stay far away from LPs.

I'm looking to finance the project long term in a way that is helps me create positive cashflow.

You will want to consult with a lawyer.In regards to your last two questions here's some background on what makes a contract valid and enforceable:Offer: A promise to do or not do something within a certain time period Acceptance: A clear and direct statement that all terms and responsibilities are accepted Consideration: A legal and adequate inducement given in exchange for the promise Capacity: The parties to the contract must have the legal capacity and competency to contract Awareness: A party must be aware of the contract Legality: The contract must be legal in the jurisdiction it will be operating in***Not legal advice*** Steps I would take: -Review contract in detail to understand each counterparties responsibilities (if you are not aware)- Email a copy of the lease to each of the tenants listed on the lease and reiterate lease expectations for termination notice, rent payment etc. - If the lease was signed via Docusign (other esign may have same ability) - you can go to the envelope, go to history and view the IP addresses for each action taken.

Columbus is definitely a solid area for MF and duplex properties with positive cashflow and appreciation potential.

Quote from @Tod DuBois: Another Furnished Finder POT cancelled on me after I went out of my way and paid to review them on Key Check and signed up for Key Check contracts, made two contracts, allowed a pet and still, two days before the check-in, they did not sign.

@Robert StephensonYou’re in a great position!

Have you contacted the Zoning Department to review the survey and ask what your subdivide options are with the existing improvements?