I am trying to get it for around 75% of ARV and waiting for seller to accept offer.  

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

I would tell him that that is an unusual request and he should have notified me before we executed and make it plain that I"m unhappy and offer to let him out of the lease.

They get in the door with a "cash offer" without cash.Wholesalers fail because they have the wrong why.

I also know its hard to find a good duplex or 3-4 unit but that does offer a good way to occupy a unit and still receive rents to offset the mortgage payment.

From the asset protection perspective having the debt on the rentals and owning your primary in FL has some advantages that many states do not offer wish my home state had this.  

Your post didn't sound like it came from a landlord with 25 years of experience, so I was pointing to the basics hoping it would motivate you to do some research.A quick Google search revealed numerous NJ banks that offer the convenience of opening accounts online.

We didn't feel the additional protections offered were necessary at this point in time.

A handy search bar in the upper right makes it easy to find previous discussions, blogs, podcasts, and other resources.

I will check out local resources.