I have already done everything on list so far except the key words.

I have been noticing more and more turn-key multi-family homes for sale in my area (Rochester, NY).

Key to knowing how the second will play out, is knowing who the investor is on the first. 

As was mentioned above - Relationship is key when it comes to real estate banking and financing - the ability to get a mortgage with a "phone call" is very helpful.

Me personally I would use the business line as a down payment source to pair with bank\private financing.  

But if you are you looking to passive there are other ways to do REI as I discuss in my article Three Key Routes for Passive Real Estate Investing

He said he'd return keys to me on Monday 9/10. 

One cannot depend entirely on the realtor to know all the details; they are the sales agent, not the business partner.I've met many investors who say the master lease is the tool to use but I have not tried.Last month at a meet up, I found a man who vacationed annually in the Keys at an illegal VRBO.  

They are a good source of repair cost information as well as stuctural engineers.

Probably properties in the 30-60k range (before repairs).I'm just curious how a lender would view the source of these funds.