You should make sure you have financing in place prior to getting started, otherwise your wasting your time and the sellers time by tying up their property for a time.3.

So your saying I wont know the true amount owed on the loan until I waste money showing it to my attorney and what if the numbers dont work?

I wouldn't waste another minute finding buyers, 99% of real estate investing is finding deals.

I don't want to waste too much time for the fear of losing it!

If you mean you look on the MLS or Zillow and try to wholesale from that I think you are wasting your time.

Also the relationship between the gross income 97K and the net 21K they are wasting alot of money somewhere to be only keeping 21K.  

The manager said based on my twenty two unit experience I could handle the forty unit work load there by myself no problem.I did take a drive through the complex, looked at the residents there and walk the property as well prior to my interview.

I cannot tell you how much time is wasted when we could be learning during our drives. since there are 210 now and hard to keep track, I plotted them on an excel spreadsheet to ensure that I hit every one.

Please do not consider this a long term solution. the take will not leach or process waste it simply holds it until you have someone come and empty the tank. 

If it's held by the LLC, then that entity *MUST* show and income, expenses, and qualify for the DSCR of the lender, otherwise, you're just wasting your time.