You can also negotiate a preferred return which must be paid to you before they can collect any further fees.Private funds usually have the deepest network, incredible access to capital, strong deal flow, and experienced managers.

If you are going to go with credit union style banks, I usually prefer to stay local, because they will often be easier to work with. 

As for SH vs MF, my personal preference is 2-4 units. 

I prefer to work with a local RE attorney with landlord tenant experience for as long as your tenant has been in place. 

@Meghan RahillFHA tends to have a few more hoops to jump through vs conventional and I can understand why a seller would prefer conventional loans vs FHA ones.

You're gonna want to start building a relationship with an agent(s) preferably ones who are investors themselves.

I know I already need to check the box on the contract that says "Agent", but past that I would prefer not to be discussing the Agent affiliation any more than is absolutely necessary with a lead.

If ANY personal items of the resident are left behind,  either a signed declaration from former resident that they have moved out and release any claim all remaining items - enumerate any large or potentially valuable items - (get it notarized or ensure signed with witnesses present)  or preferably,  ensure property is completely empty, interior and exterior,  of resident belongings.    

I prefer to buy with them already installed however if not I will install one. 

I might catch some flack for this, but I think a good screening question is “what part of East Durham would you invest in” (or Southeast Raleigh if you prefer that market).