I'm curious as to how you made out, and whether or not you were able to get the Seller to agree to hold funds in escrow to cover the cost of the rectifying the violations.

@Dave Saveri I hope my blog post is helpful to you as I cover some basics in setting up a syndicate.Here is a link for you: Apartment Syndications And How To Tap Into Huge Passive Income Profits

We plan to have the best of both worlds and word it in a way that we are covered.

We also guarantee tenant rent if they stop paying we cover lost rent and evictions costs.

Someone to cover down on SFR?

If you start younger then wne I started in 10 yrs you'll have a few rentals even on low W2.Having decent dual W2, living well below our means we where able to buy 30 rentals in 7 yrs on the day I quit.Most markets have portfolio 30 yr lenders, today a misnomber, portfolio today means does not check W2/DTI but just based on the rent covering the mortgage. 

One way to get around some of this is to physically connect the two structures with a covered walkway or similar type structure.

You can take a higher rate at closing to cover your closing costs, and then refi later on.Hope these help, good luck and be patient, it’s a hot market out thereMichael DuncanHulali Kai Realty

Be creative when it comes to financing and think of how else can you cover the down-payment. 

Percent of single family home sales in Manhattan is about 1% of all sales so despite being labelled New York, it doesn't cover Manhattan at all.