I may explain that while I’d like to buy/finance/invest in his property, I need to earn a certain return on my invested capital for the given amount of risk, and if not able to earn the return on the subject deal than I will on the next deal.  

For example, a buyer putting 20% down on a $500k home would pay around $500k in interest over the 30-year life of a typical mortgage at a rate around 6.5%.

Just curious, what is a typical LTV I can draw up to with a HELOC on primary and investment property? 

Top 3 reasons owners hire PMCs:1) No time to manage correctly2) No time to learn how to manage correcly: laws, documents, processes, etc.3) They're too nice and need someone to "save them from themselves"A good PMC can usually earn their fees by better managing the property/tenant than the owner, thereby:1) Increasing owners net profit2) Decreasing owner's time commitment, stress, headaches, etc.No matter what though, you should always plan to commit a couple of hours a month to manage your PMC.

Terms such as interest rates and payment schedules are typically negotiable.Combining creative financing with seller financing can include strategies like:Subject-to and Seller Financing: Taking over the seller's mortgage and financing the equity portion through the seller.Lease Option: Renting with an option to buy while negotiating seller financing for part of the purchase.Wraparound Mortgage: Keeping the seller's existing loan while they finance a new loan that includes the balance.To proceed, consider connecting with experienced investors, understanding local legal implications, and attending networking events to gather insights.

What's a typical down payment for commercial multifamily?

If this is the case then typically you only have to comply when you make alterations.2.

I like the idea of getting a great deal, so should I take a pay cut, invest in getting my real estate's license, go the CCIM route, and find a broker to sponsor me until I'm a CRE broker and earn of the commission and get into bigger deals as a GP?

Mortgages for LLCs with personal credit under 680 are tough and expensive, and under 640 are typically not really economically practical for the borrower. 

DSCR loans typically take 21 days to close.