I would rather spend some front end money now and do a relocation, then be able to use simple side-by-side units than to be forced into stackables or all-in-ones.

I aim to utilize other people's money to invest wisely in buy-and-hold multifamily properties.

You can offer them cash for keys-give them money to move.

He is a mentor of mine as well, and is not so interested in making money but rather he told me that he likes to see 7% in his passively invested accounts, so I offered and he accepted that I would pay him 8% APY On the principal that I borrowed. 

Given your question however, I get the sense that this might be your first time managing a project like this and so would strongly advise that you connect with a General Contractor that you can trust as it will end up saving you a lot of time and money over doing it on your.

(Not actively purchasing as my money is tied up in the market right now)...so with the 2 lenders i've gotten here:STR DSCR Rural (not a log cabin or other non-conforming structure) just remote sfrHybrid loan 15% down, interest only investment loan with seller paid points to get to ~8% and reduce closing costs DSCR would use long term rental rates to establish monthly DSCR and then offset monthly with average DTI and 800+ credit and high cash reserves as long as DSCR is .75+additional appraisal to establish STR rate estimates to be used alongside the standard long term rental rates5 year prepayment penalty with reasonable terms

With a lot of these deals, they will be very disheveled, and you will need to buy them with hard money instead of conventional financing. 

Hello, I am completely new to investing money on a scale such as this.

First, I'm paying a lot of money for these strategies so it wouldn't make sense to then share them for free with others.

He followed a simple formula: save money, buy in an area you know, like, and trust, then rinse and repeat while learning along the way.