How have some of the experienced people on the forum handled similar situation?

There is a lot to learn, you have to avoid prairie soil, you'll want to stay away from the Coliseum  Plume  (an area that experienced soil contamination) as well as sections of town that have a lot of violence but look like cheap deals (so many out of state investors get really burned). 

Since this was an "arm's length" deal and the owner was experiencing some financial issues of his own, I add value to the deal by keeping continuous open communication and essentially, giving him some earnest money to help him through the process.

More experienced investors will have access to amazing loan products that newbies just won't get.

This is inevitably going to cut into the bottom line, but usuing an experienced project manager for your first project is going to teach you valuable lessons instead of having to learn the hard way. 

Also don't hesitate to reach out to the more experienced investors.

Hey all, can some experienced investors tell me how I can get multiple home loans from the bank for buying multiple properties.

I presented it as a scenario, because I wanted to see what decisions and strategies experienced real estate investors would use.

Yes, there are millions of Realtors but you've got to choose the one who truly understands and had already experienced investing properties. 

Just looking to bounce ideas with some experienced folks on here.My law firm has been expanding and has outgrown our current space.