@Victor Zhou  I'd be interested in joining the meeting of like-minded investors and share best practices.

I know my local area though and those rules are the very basic first step to qualify a closer look. 

@Adam Hoipkemier while it varies from one deal to another, as a general practice most syndicators start out with a split that favors investors more to get some traction.

I am not an attorney so you can also reach out to one for best practices when buying multis

Is this standard practice? 

I’d love to hear any advice, first steps, events to go to, people to connect with, whatever it may be, in order to get started.

(Sorry my sensitive side showing)Next step get the house under contract with him so it does not go into dispute if something happens to him before the deal is closed.  

If you don't know the lease status yet, this would likely be step #1 for you.Depending on your goals for the home, having tenants in place may be a positive for you since tenants scare away some buyers, leading to less demand.

Usually there will be step-by-step instructions regarding the process either on the website and/or at the office. 

That's ammo for answering the NEEDS of the seller, and added awareness of any potential minefields you'll be stepping into if other parties who have made offers know something you don't.