Someone else found the deal and was going to be the primary operator, and he needed several million dollars to buy the property, and was having trouble raising money. 

Currently buying a property in Cleveland and need to explore financing options.

I have saved a few fall out deals from some desperate brokers, but they have very low production or are inexperienced.

Rates, closing costs, and points also play a huge role in making the right move and can save you extra.You also want to make sure you have multiple terms like ARM products, Interest Only, No Prepayment penalties, etc.If you want to talk REI feel free to reach out I enjoy helping when ever possible.  

If the owner is going to buy and sell their properties with us than we don't charge anything for any renovation.

I'm sorry you are in this situation.All lenders have extension options which will buy you 3 - 6 months to line up someone to finish. 

I am finding plenty of information online about the program but nothing explaining how it is directly impacting buyers looking to buy and hold property in the city.

I am willing to pay 20-30% down but borrowing at 7% to buy a property with 6% Cap rate does not sounds right.

You could even use this strategy with your extra cash to buy in cash, do light remodel, and then cash out refinance most if not all your equity. 

I had difficulty with moving enough money here to buy real estate.