People tend to be like who they associate with, and your goal is to be just like this guy.

My attorney states that I need to get approval by the State Attorney to sale the building because this property was tax exempt and had a non-profit corporation association.

Multiple LLC's have also some expense and certainly hassle associated with them. in Oregon we're charged annually and then there is more complexity with accounting plus annual taxation costs.

Leverage is easily one of the best parts about real estate, but some people don't like the associated risk of being multiple hundreds of thousands in debt. 

What you have to be careful of is the fine print and associated fee's. 

Anti-flip overlays are actually very common, especially for jumbo loan amounts, but also retail banks.The ambiguity associated with "once reviewed by our quality review department will indicate if the property is truly a flip and how we proceed" & the fact that it could simply trigger a "loan denied" for reasons unclear to you is always the price paid for accepting an offer from a buyer using a big bank.You can try starting over with a new buyer or a new lender, if you like.

There is significantly less overhead paying cash and refinancing out your money later since you won't have interest, points, closing costs and other fees associated with a loan on the purchase.What part of Florida are you looking at properties in? 

I would check the Apartment Owner's Association of California (AOA) website under free forms.

So I was looking into portfolio loans, however have struggled to find the actual general terms on those loans (do they do 10, 15, 20 year terms, rough interest rate, fees associated with it, money down, etc).  

Also, what is the legality of rewording a contract from a realtor's association?