@Kenneth Shelley   another way to put what Don mentioned is you may want to walk before you run.if at this point in your career your asking these very basic questions your not really qualified to lead your investment group.. you may make it ok but you could very easily go through a steep learning curve and lose your close friends money and based on my long career working with investors I can tell 1000% you lose their money in a RE deal and you are no longer friends no matter how close you think you are now.as for some constructive feedback here Is what I would consider if I was in your shoes.I would get my Real Estate license so you can prove to them your a professional and care about your craft..

Finding the deal is only part of the process, they then have to find a buyer who can perform in a matter of days before their contract expires.  

Why does it matter who are the beneficiaries?

I'd say it's no big deal if you pay it off within a year, but going out for years becomes predatory.I have no idea of how the deal is presented, but that matters a great deal.

ONe reason is we have NO war zone and NO ghetto... we have some areas that are kind of trashy but that's the extent of it..Its not like being in LA and you know you would never pull into Compton or WAtts at night as a lone female or male for that matter.. :)

Not saying you are Karen, but many "investor" "operators" are often driven by the cash on the table and greed and proceed without caution as the steaks go higher, that's when they should be paying closer attention to compliance matters.

Most books on the matter shouldn't take oyu more then a few days to a week to read.

Given the recent flurry of HUD's enforcement actions this is becoming a serious matter.

Markets go up and markets go down, and there is money to be made no matter what.

This is not a situation for aggressive behavior -- setting foot into this apartment while this particular tenant is still living there would be considered an "aggressive" move, given the info you have given us and it does not matter what the the law says at this point.