My contact has been great in asking for paperwork, but the process seems nothing like SFR mortgages.

@Steven WeissHell Steve, your impact fee is essentially park fee, linkage fee (rather new and expensive in LA), school...etc.

That will give me my first deal with essentially no money down, and give him $10g to hold himself over until he can get back on his feet...no pun intended :) His mortgage is currently $900 per month.

Once you have filed, they owe you the court costs and attorney costs if an attorney filed the paperwork, so make sure you collect that in addition to the rent.

What sort of paperwork should I look for?

Do they just essentially provide all money up front (minus your contribution) and they have a first lien against it, just like a mortgage company would? 

I told her we needed to exit 2240 Post Street in February, I had my RE attorney make up the paperwork  to get us out, but she would never sign off.

I have a subscription to costar as an essential tool for my success.

I’m essentially doing what David Greene says to do in his book. 

It's a pretty simple process, especially if you work a 9-5 job for a company (being self-employed like I am meant more paperwork when it came to getting a FHA-loan).With a prequalification letter in-hand a realtor will know you're quite serious about buying and you can begin the process to purchasing your first investment property.