If you go into this with the "taking care of families who can't take care of themselves mindset", these people are going to tear your business apart limb from limb.

I want to have the capacity to terminate their lease if needed.Is that lease valid?

This will clarify and reinforce what you are reading.

Bigger Pockets can't stop sponsors from going on other sites (podcasts).

This may seem like a naive/juvenile question to someone of experience, and I'm new so here it goes.What positive/negative sides are there to having a lender who isn't local to the area I'm looking to purchase?

thank JackMost won't admit what can go wrong. ;-) If it can go wrong, I've done it over the last 30 years and have the lawsuits to show for it.

I am new to the real estate investing and I am having a hard time with hard money lenders to lend money. 

@Jonathan B.On a reverse mortgage no, but if it’s going to foreclosure then it’s typically because it’s upside down / under water or there is no heirs.You could call the attorney and ask if they will let you know what the opening bid or payoff is on the property or do a case search on the county website and see the complaint as that will typically tell you the amount.

How does one go about pricing a turn key arbitrage apartment unit?

I would then explain to this complaining tenant that the heat provided meets what is required.