Most financial institutions will only let you finance 70-75% of a property's assessed value, therefore leaving 25-30% equity with the home.

Ultimately my goal in REI is to do the BRRRR strategy on properties, so in my path to finding deals, ive discovered that many foreclosures selling thru a sheriffs sale in my city (Lancaster county PA) As ive researched many flipped properties (flipping the property would always be my exit strategy/ something else goes wrong) I trace quite a few properties to the sheriffs sales where the Bank (that foreclosed on the property) is buying it back.

Why because these institutions have been here for a 100 years and are likely to be still here and growing in another 100 years.

And now we're tackling multifamily and new construction.I remember when I was an aspiring investor and had just discovered BiggerPockets. 

And as you've probably already discovered, managing OOS properties isn't as bad when you're just a short drive away.

If you think you're going to do a lot of deals together you can go the LLC route, but it'll generally cost more and you may discover you don't fit well together.

Look page 202 for example Discover the sellers true motivations Price?

The last assumable mortgage on residential property written by a conventional institution was in 1978, since all mortgages have due on sale clauses which allows a lender to accelerate the note should the property be sold.  

If you discover other issues upon interior inspection, or professional inspection, then negotiate from there.

@Nelson Lin 80/20 is considered institutional and is a decent split.