I am having difficulty finding a buyer with a multi-family home, instead I am hearing that they do not want to deal with the "nightmares" of selling to an FHA loan.This has thrown a wrinkle in my initial plan.

You are not looking for one of us to lend to you as I initially thought.  

To further clarify my initial post - I know very little about real estate but I'm hoping that a lot of what I do at work (managing in a team-oriented environment, etc.) will be useful as I go through this process. 

Monthly Rent: $1,700PITI: $809Property Management: $221 (13%--I feel this is high & an opportunity to reduce this expense)Vacancy Rate: $119 (7%--this is based on our initial vacancy so I think it's high, but I'm using 7% to have a safety margin of error..

The initial appraisal came in significantly higher than the purchase price.

What revenue is generated should be put back into growing the business initially.  

I've seen prepaid items such as taxes and interest rolled into loan on initial good faith estimates (about 4K) for refinance.

I got my initial experience managing my dad's 100+ apartment units in Inglewood.

@jay @Jay Hinrichs  My initial post was trying to narrow the scope a bit as there are dozens and dozens of companies, organizations and groups with the initials NACA.  

(I must add- Yes, the final appraisal was higher than my initial ARV, but that’s not the point.