This way I don't have all my money in ONE complex and I don't have to come up with a huge down payment right away.

That's the way courts have ruled. 

This is All Saints almost on the corner of Court St.

Next we send another notice with a court date to appear before the judge in housing court where we will negotiate a deal with each tenant.  

Then if no response a court date is filed.

Go to the county clerk of court site.  

Hey fellow BP members,I currently have a lead on a multi family complex out in fifth Ward that is willing to do an owner financing deal.

Might need the advice of a bankruptcy attorney to solve this one :)  Sounds like a complex one... but find out if seller already filed for bankruptcy and what type (7 or 13) or is he just in talks with a lawyer.  

I also have approximately $60,000 in combined equity between my primary residence and my rental that I could access via HELOC or cash-out refi if necessary.My planned strategy has been buy and holding a few small multifamily properties (if I can find any) until I can scale up to a small apartment complex or two.

It will likely never be an issue for you.Multiply the scenarios out to a 100 unit apartment complex - and, more often than not, something that the seller said is not correct, and tenant estoppel's help to uncover problems before the seller is gone and out of the equation.