For example, investing $90K passively in an apartment syndication with an 8% preferred return will give you $7,200 per year on a completely passive basis, plus more at the exit of the investment when the property is sold.There are other types that can also yield a potentially higher return annually if you want to be more active in the investment, such as BRRRR rentals. 

Preferably buy something that is easy so that you don't hate/get overwhelmed with real estate investing from day 1. 

I think I'd prefer to have higher stated expenses from the seller, rather than a seller claiming to only have 20% expenses per year, as it just adds more upside to the deal if you know what you're doing.

The second option is that you get a few estimates for the repairs and he knocks the cost off of the list price (my personal preference).

I think most will prefer to lend to an entity (which could be an LLC or corp).

For example, 60's multifamily may have materials that 80's and newer does not so for that reason you prefer to stay above 80's product.

I am planning to invest in homes(s) with a max sale price of 150K - 160K preferably in a single-family home.

They back out of the contract, and now you have a half finished house with all their weird preferences that no one else wants.

Naturally the best thing to do is ask him what he prefers. 

I use a broker on every deal and prefer to only use the listing broker moving forward/I hope he or she makes a bunch of money.I recently bought a deal that was not on the market (off - market) and I had a broker in another city represent my offer only because he knew the seller.