At the end of the day, it's not worth your time and mental energy doing anything legally with the seller.

They were selected due to stronger qualifications in one or more of the areas I review....income, credit, or background" One important thing I want to add should be at the top of every list is:"I pick a mentally balanced applicant"Once I vetted an applicant over the phone and my wife met him at an open house.

That mentality is wrong.

Hedge funds are not buying with the same mentality many in the mid west talk about IE I only want max cash flow and could care less about appreciation.. these guys from what I know WANT appreciation as well.

That sounds eerily similar to the 2000-2007 REI mentality...and I don't think it worked very well for most of those people.  

Also, you would want a realtor or lender that are also investors themselves where they can provide you the expectations and hurdles of an investor to mentally prep you when you go through the process @Albert Bui @Carlos Valencia

@Helen Chau  congrats on mentally making the jump and deciding to do multifamily. 1.

They will likely have many issues, legal, substance abuse past and possibly mental. 

Think through this mental model with me.  

In the end, I'd much rather keep my apartment vacant than have it occupied by tenants with a culture and mentality towards their living space that doesn't align with my standards.