I will also add the Turn over in 1 bedrooms is quite high, I bet they average less than 2 years per unit, probably closer to 1-1.5 year tenancy, 1 bedrooms tend to be temporary and transient tenants, till they find a significant other and start a family, or need more space. turn overs get expensive. honestly the more i think about your deal the less i would pay.

Your best bet (as @Thomas Gagnon already mentioned) is a local bank or credit union that uses their own money (a portfolio lender).  

I bet the seller wont like that but you gotta look out for yourself. 

You can get on the Secretary of States web page and it lays it all out for you.

Jay, would you say jumping on a large apartment deal as a passive investor, or buy a couple of highish APR notes would be a safer bet at this stage of the game than buying 1-2 SFHs?

Your best bet is to get a loan for the property, so the lender can have a mortgage, and save your money for repairs.

Also, I searched in the web and found that the book, Building Wealth One House at a Time by John Schaub, is a must-read book for real estate beginners.

I bet the guys talking about weasel clauses would not like it if people did that to them.. .. oh well.. can't fix the world of wholesaling its just pesitlance like Gully says.

David McLaughlin Your best bet may be a bank statement program.

But since I've learned more information I think my best bet is to leverage myself and do a cash out refinance and expand my profolio.