What really matters is what’s in the leases as you’ll be bound by them.

Unless he’s in the hospital and his phone got run over, four days is outside the bounds of professional courtesy. 

Nick- just a thought if you put 550k down and next year the market tanks  how much do you stand to loose. 

I thought if I can find the house myself my realtor fee would pretty much cover my portion of the down payment so I am not loosing money I can be investing in rentals. 

An investor might love paying for individual metering of utilities (as an improvement) but the appraisal will likely rather see new kitchens and granite counters :) One thing to consider is that you’ll be bound by current leases.

@Lee RipmaAlthough I'm just becoming familiar with the term, I do understand it is used somewhat loosely in the industry and it is my understanding that you can buy properties that a turnkey operation will handle the renovations and set up management for.

Get same person to give you time estimate as well as price.You should have 30 days to return any deposit along with written explanation of funds being held for damage.So I doubt the deposit or how much you might give back will be discussed with judge during eviction.My lease clearly says that if they break lease they loose all the deposit so damage expenses may not come into play at all. 

The deals ive found have been over the past 6 months, 3-4  that are guaranteed returns but ive had financial set backs that caused me to loose alot of my saivngs over time but i am now settled back down and able to save back up.I dont currently own a home and was planning to househack in the next six months but the market is really high in the areas surrounding my jobs for multi families which is what made me start to consider flipping.

That puts you in a very dangerous place...I guess these guys don't realize the risk because they've only been in the game for 5 years...I love the guys and their personality...900 hundred units is freaking phenomenal...I have seven...so I'm a minnow in a ocean full sharks...But with the loom of a market correction, I want 50 percent of my units free and clear, so when all he'll breaks loose, I can thrive and not hope to survive...

I know borrowing from a parent could be a very easy with loose terms or safeguards for either party.