Hi, I’m a newbie to NNN. Looking for consistent cash flow on the invested cash. What’s the good cap rate range? What is the current interest rate on LTV 70-75%? I’m focusing on restaurants for now.

Ideal, look to buy something dated, fix up the unit you're occupying and then transition renovations into the other units as the tenant leases expire.

I deal with industrial.

Looking at purchasing 2 four plexes. 1 ideally through the FHA to keep down payment low, the second one still trying to figure out if to owner finance or lease or conventional loan with standard down payment.

I would love to get occasional updates on the property and ideally they have a network of in-house contractors that can do any fixes and repairs.

You are doing a cash-out Refinance to get the Dollars that you put into the property (cash from purchase or down payment and renovations), and getting it back, to ideally use in the next investment.

Hence, the assumption structure.After completing due diligence, it was apparent the expenses were very high and tenant payment history was less than ideal.

No, a hard money loan wouldn't be an ideal option based on what you described for a couple reasons.First, hard money lenders don't typically loan on owner-occupied properties, and it sounds like that's what you're looking for.Second, and more importantly, hard money loans are usually short term loans better suited for fix-and-flips or for projects where you have a clear exit strategy. 

Advertise to recruit a lot of prospective tenants and then narrow down the ideal candidate through the vetting process.

Being a RE agent will help big time in investing since you'll ideally have the support, network and be in the business to be successful.