Other terms, like 80% occupancy and reporting detailed financials and taxes every year to prove you are worthy?  

Here are some guides to this site that can help:Find and connect with other BP members that are in your area--MEETSet up keyword alerts to be notified of the topics that interest you--KEYWORD ALERTSRead Beginner’s Guide-- GUIDECheck out BP Podcasts--PODCASTSFinally, my advice to you would be to take small steps and be disciplined with taking ACTION.  

When you get to that point feel free to DM me and we can talk directly.The type of financial structure you describe in the second part of your post is called BRRRR.

I have an MLS listing active from my agent to see what’s out there as well.Needless to say, I’ve been a long-time lurker and I’m ready to change that, jump in head first and get into the hardest part, taking action!

I am not a financial whiz or a commercial giant by any means, only that I know if we sell this property, the buyer is going condo route, so why couldn't I go that route.I am guessing my biggest mountain at the moment is how could I even possibly get financing for a 30-40 unit complex since in theory we are talking in the multi millions.  

I had a whole loan package done and on a secure linked google drive, and my building financials on the BP reports all in there.  

The seller breached the contract and you have a cause of action against him.

Do you have any financials on this property?  

It's something I have been thinking about getting into for a few years but I never took action to get started.

learn about 1031 tax deferred exchangescomplete you financial package - 3 years tax returns P&L - real estate portfolio, credit scoreexpect to be rejected by lenders and other W-2 employees - qualify lenders, bankers, mortgage brokers - ask what products they have - see if you qualify for themlook at 20 buildings before offering on any - know the SF dollar cost - keep a journalmail lots of letters (be professional NO yellow childish communications) to owners of apartment buildingsUnderstand what a CAP rate is and how to get to it - fill out your  commercial APODVerify -verify - verify all financial data given you by sellers - sellers are liars (so are buyers) trust NO One!