When I was out looking for lenders for one my current apartments, I called 5 different banks until 1 said yes.

Before I can move forward I'd like to get a professional's opinion.

I have tried in the past to do this with a solid written agreement spelling out exactly what the terms of the agreement were, what was to be done, and that the work needed to be completed in a professional, workmanlike manner.

I am aiming towards acquiring a large out of state multifamily deals this year that is large enough to support a professional 3rd party property manager and am "requiring" myself to acquire my first one by the end of this year through syndication.

I am a young professional looking to get started in REI.

I think you will be better served being aggressive in making offers, shopping hard, building relationships with real estate professionals, and in the end tackling a house that you can add value to. 

My main goal is as followed  House hack live in one unit rent freeMake $1k net per monthHave 30k-40 equity after rehabbing the property2-4 unit propertywhat I have as my financial outlook is as follows177k-182k2k debtcredit score 775I have year w2 with business income shownI (CARE ONLY ABOUT CASH FLOW I DO NOT CARE ABOUT APPRECIATION), and for that reason want to find a 3 unit place, I do not want to go to Newark and I am from Paterson NJ which I don’t mind hands on.

My main goal is as followedHouse hack live in one unit rent freeMake $1k net per monthHave 30k-40 equity after rehabbing the property2-4 unit propertywhat I have as my financial outlook is as follows177k-182k2k debtcredit score 775I have year w2 with business income shownI (CARE ONLY ABOUT CASH FLOW I DO NOT CARE ABOUT APPRECIATION), and for that reason want to find a 3 unit place, I do not want to go to Newark and I am from Paterson NJ which I don’t mind hands on.

The assignment assigns the Mortgage to youThe allonge transfers the note to youAs for due diligence :Are the notes Dodd Frank CompliantHow much are you investing relative to the current unpaid balance (UPB0How much are you investing relative to the current Value of the propertyAre there unpaid taxes on the propertyAre there any unpaid liens on the propertyAre the borrowers currentHave the loans been professionally serviced so you know the pay history and the correct UPBDo the borrowers pay on timehow long have the buyers been in the property, do they pay on timeAre taxes and insurance escrowedIs there insurance naming the lender is there a lenders title policy

If it gets down to pocket change range for the local professionals and they aren't touching it, there's a reason why.