As I am new to this and looking for cashflow using rentals, one key aspect of this investment is to ensure that the unit rents out quickly and while I do understand that cash flow to begin with might not be attractive, it can be a good investment in the long run if the location is right(as appreciation also kicks in).

Zach, If you search Pace Morby on YouTube.

AND just because you have experience and a “good deal” doesn’t mean you will be successful trying to syndicate the deal.The first criteria is does the sponsor have the general knowledge and experience in real estate, and the specific knowledge and experience in the property type/location to give the project the best shot at success?  

A quick google search of your state indicates the following regaridng timeline to give notice:30 daysFor tenants who have lived in the property for less than one year, or have a lease for less than one year60 daysFor tenants who have lived in the property for more than one year but less than two years, or have a lease for more than one year but less than two years90 daysFor tenants who have lived in the property for more than two years, or have a lease for at least two yearsI'd definitely touch base with an eviction attorney in your state to ensure you are not missing any steps and to have the attorney as a backup option in case the tenant does not vacate easily.

We found an opportunity to purchase a huge SFR with two kitchens located next to a commercial zone which was previously used as a sober living facility.

Sadly, it seems that cash flow on long term rentals with 20% down just does not exist in most desirable locations.

I had a call with a loan officer yesterday and I am very intrigued, but haven't heard much in recent discussions for this product or found anything in the search bar for this bank. 

Additionally, they should be helping with taking video walkthroughs of the location and the property, estimating renovations/scope of work, helping you learn neighborhoods, building your real estate team, etc.

I would search for other HML

In those days it was possible to locate and tie up a “killer” deal, and close the transaction with absolutely zero of the investors own money.