First, as @Greg Dickerson mentions, educate yourself.Decide what type of investment you want - passive or one where you play an active role (or where you fall on that gradient).Depending on the above, your path will vary a bit but start reviewing all the deals and PPMs you can.Review at least 50-60 deals before making your first investment.

.  ;-)That's not to say your exercise in evaluating smaller properties is useless. 

Any waiver of late charges under this paragraph will not affect or diminish any other right or remedy Landlord may exercise for Tenant’s failure to timely pay rent.Yes it was spotless as i personally got on my hands and needs and cleaned the baseboard and swept and mopped.

I believe emotions play a big role here.

But it would be a fun exercise to come up with those creative solutions, especially considering many would be based in brand new technology. 

I've been the renter in this situation for two years, and now it's time for me to switch roles and become the landlord.My main question is regarding a down payment.

Others, which sounds like you’d be more geared for would, be an outside Loan officer role where you aren’t given a base salary, however you are compensated based on the deals you source yourself.

In order to not have an effect on current rent roles I will accept it returned as a rebate until the unit sells.That shows it is a business transaction and its nothing personal.

We don't offer any rent credits, but will frequently give seller concessions if the option is exercised and the tenant/optionee buys the property.

I would meet as many of them as your schedule allows and interview them as if the roles are reversed.