The biggest hurdle I have seen is that all postings for positions such as this requires past experience and in some cases schooling.

You can literally be a middle school school dropout, turn 21, and the next day be a Big Bank loan officer without ever passing a single test.But for Local Lenders with flexibility, we face a LOT of hurdles just to add a single additional state or even maintain our own...Think of that whenever you read "lending in all 50 states!"

Asking Price: $695kGross Rent: $54645Gross Multiplier: 13.30 (According to MLS)CAP: 5.1%NOI: $36,066 - they didn't factor in vacancy or management and I believe the posted utility cost is lowMy Estimated NOI: $25115$25115/ 0.051=  $492,500Is it unreasonable to offer $492k - $520k?

The #'s still work if i can get it filled, but there would now be time and $ hurdles to clear before getting back to the financials I thought I'd be stepping in with.Now that the situation has changed, am I still obligated to go through with things or forfeit my earnest money?

Never had issues with late/missed rent, but I ended up offering cash for keys after about a year because I found there were a lot of headaches unrelated to rent payment - noise, unreasonable maintenance upgrade requests, no respecting communication boundaries, etc.

Yup, it's in there, specified as part of the lease assignment section.The main points seem to be:Not without written consent of Lessor... which will not be unreasonably withheldSo yeah, looks like it's there, but that "unreasonably withheld" is kind of vague.

Is that being unreasonable?

One of my biggest fears and hurdles is management of the properties. 

You both make money and you've crossed the 1st deal hurdle and are able to move forward on the next one with more confidence and a connection.

We all start somewhere and the biggest hurdle for most folks is to get started.