I've even offered through agent advertised properties, but you'll usually get better response from FSBO. 

The seller CAN still offer to pay some or all of the buyer's commission fees or other closing costs, but it is not mandatory... that is the seller's choice.

People are very willing to assist.Regarding limits, the PPM will note the min and max investment in the offering.

I've navigated similar paths and found that each offers unique challenges and rewards.

The IRS still doesn't like "short term" 1031s, with good reason - you need to ensure that you can 100% support that it was not a flip.This was not uncommon during 2020-2022 when prices were increasing at an incredible rate, I did have a few clients where they acquired a property that was truly intended to be a rental property, had a long history of buy / renovate / hold rentals, and then the market just blew up so fast that it changed the investment analysis for that property, or in several cases they actually just received unsolicited offers that they couldn't refuse.  

You should be able to make your $5000 back in a few months.When the bank comes back for it, offer to buy the note at 50% of face value for cash.

In the MLS listing, I initially offered $10k above the asking price due to multiple bids.

I would ask them to check out the house physically, if you get there then make a firm offer you're comfortable with it.

Did you offer a reduced rent to the tenant for renewal?

Some sellers are NOT going to be selling.I just got offered several 4plexes that were valued at 5.5% cap rate.