I understand that there is a period of due diligence once you get the property under contract, and I was wondering if you guys would help by telling where do you find accurate information about rent rolls, property income, expenses, taxes, etc. 

What you can probably do is, instead of getting a non-recourse loan, get the mortgage with the LLC as primary and add a personal guarantee, so you are on the note as well. 

Normally, over a nine year period, that gap would have increased significantly in your favor.

What would be the option period, money down, option money?

@Felix Sharpe - I've always thought that anything outside of class-A prime areas could sit empty for what seemed like ridiculously long periods. 

I have a question for all the BP experts.I am fully aware (and abide by) all owner occupant requirements when dealing with any type of government owned/marketed homes (HUD, Homepath, etc).However - I ran across a new listing today that is simply bank owned (national lender) in which they are forcing a 14-day owner occupant only period.  

That does not qualify.There's no statutory holding period but the pattern and nature of your activity will demonstrate whether your intent was to hold the property or to resell it.

Her credit sucks but she is over 60 years young and has a guaranteed monthly check from the government that would pay for a loan or mortgage.  

@tony masterleased options are only for turnaround purposes where you have low net operating income, you guaranteed the low net operating income, and then increase the net operating income by creating full vacancy, increasing rents and creatively increasing services that add to your bottom line, eg coin operated laundriesYou do need the capacity to buy it to make some money, and It might take 20 to 30% down@Tony Carterundefined

The Manager in turn has the exclusive ability to place tenants in the property while the Owner/Landlord receives guaranteed income regardless of vacancy.It sounds like your idea was similar, but instead of a Rental Management Company buying the rights, it would be a corporation or university.