Is there a set time or rule that banks use? 

Depending on what you are targeting you may even be able to work with a bank to have funding up to a specific limit available.Next you need to start networking with agents and other real estate investors in the area you want to invest in.

No bank approval needed.

One important thing to know is that the list price of the home is set by the listing agent, NOT the bank..  

Far better to resolve before it gets that far.Right now, the bank will talk to anyone on the loan, anyone on the title or anyone who can show a Power of Attorney for anyone on the loan or on the title or a properly executed probate.

But given that this is happening in the hottest of hot markets, I feel there is a trend towards down side on commercial multi family projects ...And once the banks start losing money on $100 M apartment complex in Seattle or NYC, they will start to jack up RE loan interest to make up

(More big banks?

If you put down $60k capital gains and the bank finances the rest that would potentially qualify for all of the tax benefits.Q: If I hold property in an OZ for less than 5 years are there any tax benefits?

Repair money should be in the bank, not coming out of your pockets when it happens.

Best part about investing is the ability to stretch your funds with the best bank financing available.