I am prepared to get this done as soon as possibles.

You might consider Niche or Specialized Housing like student housing.

I can’t think of any better way for young people with limited resources to prepare for their future so early on in life with so little cash out-of-pocket.

Central location - relatively motivated sellers - mostly fed subsidized (mental health) - is it worth renovating and raising rents      - is it possible - small Apts (mostly 1 br) - option to hold and cash flow then repurpose as city changes zoning / vision How do you finance a large commercial purchase like this - % down / LTV - amortization / ARM - cash flow requirements - inspection requirements - special clauses for maintenance refinance options later Asset or personal info more important Code requirements for commercial loan Deferred maintenance list -What are main issues with 50 year old apartment building ?

There are several lenders that specialize in this type of funding.  

All the preparation in the world could not have made my first deal smooth sailing.

This is the place to get educated and network as you prepare to buy your first rental property!

For him to be this motivated, he would reasonably wish to be paid all at once through cash or bank financing.If you wish for him to take a SF deal, you'll need to be prepared to create a valuable note from his perspective.

You also have to be prepared for the question, "how did you get my phone number?"  

That being said, there is a lot of competition at the auctions these days and the chance of an "amazing deal" not being recognized and bid on (and probably bid way up) is slim to none in my experience.If you're interested in auctions though, there's nothing wrong with going to watch and see how it works so you'll be more prepared when you have the money to be an actual bidder.