My plan was to buy a 2/1 (I didn't need a 3/2 right away but I could extend and add 1 bedroom and 1 bath a few years in the future) in a good area and put some work into it to make it the way I want it. 

Request an additional security deposit for the duration of sublet.

As long as the tenant pays on time they can keep their lease extended.

Plus with the systems, we are creating the ability control our schedules and work remotely (i.e. the freedom to take an extended weekend trip and stay on top of things).I am educating myself on acquiring larger apartment buildings and understand that I need great knowledge and a bit of money to attract a partner with more money and a bit of knowledge.My QuestionWhat should I do to make money and acquire the knowledge needed to walk a distressed multifamily property and identify what is needed to turn it around?

So, a fair price, a fair down payment, terms that are conventional for the type of credit extended, interest isn't pulled out of the air, it reflects risk assumed, but such deals do run around the 7 to 10% realm, you do need to ensure that seller financed usury laws are followed, if any.

By doing so you save from paying PMI throughout the duration of the loan.

(Obviously you can extend the hold for someone you really like).

For more complex bathrooms with lots of tile this can extend for a full week, or even two with only a few hands. 

My seller has extended the contract, but I can tell they are getting annoyed.  

Hello,I'm sure most of this has been addressed somewhere, but I'm just starting to look into my first multifamily investment properties in Colorado, really anywhere within 2 hours of Denver (the closer the better, but the better the deal, the more I'm willing to extend this).