(would it be a surprise if you find out subletting is allowed later)Can you review their initial applications and background verification if any? 

If the initial funds are real concern, it might be worth considering structuring the distributions in such a way that he or she recuperates the initial investment first.

The "why" is really what has pushed me to take this next step. 

Insurance Loss proceeds can be some of the hardest to get reimbursed from your lender. I have seen loan documents that were written so that the investor had no possible way to ever access insurance funds - but they st...

So my first step will be to read and hopefully find a good mentor that will benefit from someone willing to work nights and weekends to help in their ventures while I learn along the way.  

If so, then you would move to the next step if coming up with an offer...

if you are going to live in one of the units initially then you can finance similar to buying a SF.

NOW, with my finance background i analyze the properties in a way that makes sense to me with that being said IM REALLY INTERESTED IN LEARNING HOW PEOPLE VIEW AND ANALYZE a "deal". be as detailed as possible on your analysis and how you go about it, your steps and the reasoning behind it. as i see posts come in i will posts how i go about mine so that you guys can critique and also give me pointers.PS: if you guys have deals in northern and central NJ please let me know were looking to close on the right deal ASAP

Be prepared to talk pros and cons. if inherited them may have stepped up basis so no tax consequence.Would you pay a premium to get terms?

The few I've encountered in doing some cursory initial research have had rates higher than the mid 5's you mentioned so your post definitely caught my attention.