Does this cover my bases?

I have 10% cash to put down and can get a bank to cover 60% of the Value,  how does someone obtain the additional 30% from open market funds?

Together we feel we are able to cover all areas of investing in multifamily properties.

My idea was to obtain a bank loan to cover the outstanding balance on their current loan and then create an owner financed note for the remainder of the purchase price. 

If you make $50K a year that $200/month cash-flow isn’t going to be taxed highly and your mortgage interest will cover it.

They didn't check, thinking the agent had it covered, so I'd personally talk to their lender and make sure it's a strong pre-approval, unlikely to fall through, before proceeding.    

And you always want to hold significant reserves from countries that are such heavy consumers.

I've heard stories of landlords keeping deposits to cover real and actual expenses related to damages and/or a tenant breaking a lease and a judge not agreeing with that use of the deposit and awarding damages to the tenant.

Did it go up enough to cover the closing costs on the purchase side AND the sell side???

Letter indicating cease and desist its trespass, talk to your lawyer, no trespass sign, and big rocks or posts and a heavy chain strung between them.