i bet the guy settles for a few grand.. or the 10% clause..  

I have done research on multi-family units and I truly feel that once i get a better grasp on the terminologies and legal aspects & where i should set my targets i will come to love and understand the business. i am very interested as is but i am still a little bit lost with all the information on the internet it really can be overwhelming 

I'd do a 1031 into a syndication which achieves the following1) Tax deferral via the 1031 - why pay taxes when you don't have to, let the unrealized taxable gain continue to work for you2) Passive - by investing in a syndicate you can move from being an active investor to a passive investor3) Returns - in my experience you should bet better returns by investing with a syndicateGood luck!

Right now I am just shooting blindly I bet.

I bet you have to put down 30%+ in order to satisfy the bank's DSCR.Frankly, the fact that you're asking these questions means, you're nowhere near ready to buy a property of this size.

Just do an internet search for Certified 203k Contractors or Certified 203k Contractor Directory and you'll find it. 

ROI is much higher and can out perform those betting on appreciation.

Option number 2 will be your best bet.

Your best bet in getting your money back is to talk with the highest possible manager in a thoughtful way with documented dates, emails, and phone call records.

And then there’s this post: EDWARD BURNS FINANCES SCAM ARTIST (SCAMMERS LIST)Just so you know, real private lenders are not typically out there emailing strangers on the internet to try to give them loans.