If I receive a reply then try to acquire the property?

After acquiring , renovating , and stabilizing the 11 unit deal I last wrote about my company has seen TREMENDOUS growth in a very short time.

Tennant is under lease for many more months...Obviously the opp. is the owner wants out of being the landlord and the mess they created.My gut says to walk... too much risk with current tenant history... but part of me wants to explore if there are ways to fix the situation and acquire the property without risk somehow....Any ideas?

After just acquiring a new personal residence, i do not have enough for a 20% down payment.

John:Make a detailed budgetCheck on availability and cost of water and sewerageGet a good real estate lawyer - you may need to mediate with both current and previous owners to acquire good title to the propertyAct before the August Tax deadlineGood Luck

They are newly acquired properties.

This would benefit us in multiple ways and hopefully be the springboard to acquiring more rentals going forward.

@Jeremy Karja the reason to use a HML to acquire vs going the traditional route is simple.  

FHA is not possible for this loan amounts, I'll have to pay any way 15% plus.There are more requirements with FHA which would make it very hard for acquiring 4-plexes.  

I heard that there were ways to acquire properties with low or no money down.