This knowledge is essential Assuming you source a good deal (with multiple potential exit strategies), I would then bring in a capital partner to fund the down payment or Property acquisition…and get some sort of sweat equity (depending on your experience and value brought to table) and then invest the $10,000 you do have into the deal itself to add your stake, add some skin to the game and align your interest with your capital partner.

This is potential schizophrenia pattern.

I already completed the lead inspection.I have a potential tenant looking to move in April 1, can I have a tenant before the license process is completed?

Banking locally gives you a human you can speak with about your potential deal.

Potential is like wishing in my eyes so a break even amount for rent on a $700k property at 5% down seems like a huge ask.

Unfortunately, I don't think one exists.If you exhaust your potential down payment for a future primary residence by buying a multi-family now, then ... you can't buy that future primary residence until later.If you're running the numbers, and they ain't working, then you've got your answer.

Make sure your purchase has a strong potential to over come the costs of those to taxes within a short time frame.

Study up on legal issues, property management, market research, property analysis, and finance possibilities.Participate in online forums like BiggerPockets, attend meetups, join local investing clubs, and establish online and offline connections with other real estate investors.

When I find a park I literally have to make a formal financial presentation to her showing all my research, park's financial history, cash flows and anticipated proforma (and that had better be accurate and conservative or everyone in the room catches hell- including the dogs). 

This is out of an article that should help you get your research started: A taxpayer may not deduct losses sustained in the demolition of buildings and their structural components.