(Seller needs the equity out asap, so seller-financing is out)As for the deal itself:       Located a few towns over from me (but not far enough where management would be a hassle), right near the better part of the borough, near the middle school, very close to stores & very close to where new construction is being planned & the area is on an upswing.2 - 2 bedrooms (1150-1200/each)4 - 1 bedrooms (850-900/each)Going inside it this week, but from my walks around the outside, I'm ballparking about 100k in renoSeller asking for 200kTaxes as-is about 6500Seller states all zoning approvals & site-planning have been completed, only thing left to do is pull permits and put nails to woodAs of right now, my immediate plan would be to sit down w/ the commercial people at my lender's, assess my standing, and start all the other due diligence common with a typical, residential purchase.

I read in Money Magazine that one of the biggest mistakes investors make it paying the typical fees to investment brokers, so I am looking to get out of that but don't want to lose my tail either.

Since you have already completed the rehab "R" the house will appraise for more than you paid (value add), so you can pull that money out and Repeat. 

Some banks require 6 months and a few require only 30 days but these are far and few between and your going to pay for that with higher fees.

I pulled out of the market back in 2006 during the crash.

Fantastic to pull in a net income of 1.5% of the Purchased value!

What pulled you to multifamily in the Knoxville market?  

Most are happy to attract anyone who has the membership or meeting fee and might either bring them deals on day or be a source of cash for other member's deals.

Please note that I don't know how plausible they all are so feel free to comment:1) Write it into the offer that the eviction process has to be completed by closing, else I can walk.2) Ask for money back at closing to cover any fees plus unforeseen damages to the property.3) Walk away and find something else.Oh great, now I can't figure out how to get my margins back to what they were before....anyway, I haven't made an offer yet.

Pull out all those that are owned by an LLC or have multiple houses.