I don't post here often, but I do like what Henry Clark had to say earlier about choosing properties that have been on the market for a LONG time.I used that strategy for a 1031 exchange from a small condo to a 6ish thousand square foot commercial office building (no experience).

From what i understood is I need to build relationships with bunch of multifamily lenders to see if they offer pocket listing. 

If you do go the condo route, you would ideally want to find a building that is Fannie Mae approved.

reaction.A $500K building should be bringing in $5k/mo. (1 percent rule)If is bringing in $3700/mo total then it is either under rented and the rents need to come up, the building is over priced, or it is simply a bad deal. 

I'm a cash investor with a few million that I'm looking to build a portfolio with.

Sharing the concern about freezing it is fine; its all about building a relationship, getting buy in vs. rules.

We build trust and improve our chances of finishing the deal by assuring sellers of a smooth closing process and showing our commitment with large deposits.

BiggerPockets has a section just for this, Under the BUILD YOUR TEAM tab- then select- MEET UPhttps://www.biggerpockets.com/forums/521This is the best way to learn from investors in Houston and what to expect on the market.

What I recommend is probably not good business practice (profit wise)  but i always build great relationships with my tenants ( also they always paid) and I had many over the years. 

This post is my small way of advising against that and hopefully steering some people straight.There's no shame in sitting on cash, building reserves, and being patient right now.