While my wife and I have a good amount of private capital, I would want to do this deal with someone else's money and my sweat equity. 

There is the those that have to sell and yes they are probably selling it distressed or a forced sale- but as you mention if you look at this listhttps://www.nmhc.org/research-insight/the-nmhc-50/top-50-lists/2023-top-owners-list/These companies may have some strategic liquidations but they can ride this thing out.It’s the syndicators who promised people cash and took at short term debt because they played the lottery thinking they could flip a multifamily building thinking prices always go up and cannot now handle the debt burden.

And perhaps in that case, I am thinking to offer them cash for keys to vacate the property (After the property is vacated and condition of the property is verified) rather than hoping that this will get any better. 

Have you made a decent profit / cash flow in this city?

Purchase price: $250,000 Cash invested: $40,000 Took a three bedroom ranch home and converted into two separate apartments with two tenants.

This method allows you to set terms that not only cover your existing mortgage payments but also provide additional cash flow each month.

What is the Cash-on-cash return?

The rate difference between FHA and Conventional is actually over 1% right now for Multi family propertiesCurrently the rate offered is 6.75% and 193/m in PMI (private mortgage insurance)That makes the payment with taxes and insurance roughly:$3453/monthTaxes were $3820, and insurance is $1800/yrCurrently this building can rent each 2 bed unit for up to $1800/m with tenants paying all utilities.All in cost to close is: $71,414.64If you rent both units for $1800/m you can expect gross cash flow of $147/mThis is the reality of buying a turn key duplex in the area using todays rates and prices.I want to stress, that this is actually considered a great property and deal in todays market for the areaYes, prices are high, and so area rates...My goal is to show what is actually going on.

There is also some states with specific laws, such as in California you must offer at least one other method of payment that is neither cash or online payment.

I prefer a hard dollar amount rather than a percentage.