My goal is to be able to buy single as well as multifamily homes and live off of the rent (long term goal) Ive also met with a broker who works with short sales, he takes on about 10 "projects" a year presents you with the short sales in area of interests (mainly Long Island) along with high and low comps, he asks for a percentage (unknown, at our discretion it appears) of the  profit after the property is sold, he typically works with investors who buy and flip. 

Reason I ask is typically you can't get LLC treatment if a property is financed.

I know it’s typical but is everyone 100% sure they’ll be able to refi no problem at the end of the term?

We also buy very unloved buildings under the assumption that we will be gutting the building and replacing almost everything ... so typically do not bother with engaging an inspector or engineer unless we see something out of the ordinary (in a bad way) or we are having a Phase 1 done.However, in the beginning before we had acquired our present level of comfort and experience, we sent an inspector into most buildings ... if for no other reason than to provide input into maintenance and renovation planning.

I would call it a lawn, but the grass had probably never been mowed and is very coarse. 

Materials here are typically at a higher cost.I'd be happy to help answer any other or specific questions you have.

They usually have an interest rate a little higher than a bank but they are typically more ready for negotiation. 

I am not the typical BP person because I just don't believe in "passive" income. 

I figured that before asking and running the numbers but wanted to see how much margin they typically use.

@Matthew Brill  In typical Rich Dad fashion... you found a way to say how can I find the property I want, as opposed to shutting off your brain with the predetermined notion that you can't find it.