If you own multiple properties, I doubt you'd be looked upon favorably in a housing discrimination court case where you dropped not only the first 37% a-priori, but also dropped all the marginal applicants until you found a winner.6.

Most lease agreements you will find online will be good enough but you will need to educate yourself on how to evict a non-paying tenant if you haven't already.Check rental history at a minimum by going on the district court website or using beenverified app on your smart phone. 

I recently found out the town is building huge apartment complexes other side of the main street.

Most private owners are not going to want to take the risk of financing because the foreclosure process is oftentimes more complex and longer than the eviction process and most do not even want to deal with being a landlord which is why they are selling.That being said, some people are naive enough to take whatever offer comes to them if they have been waiting around long enough and the person making the offer attempts to document why they would make a great person to finance to.I would probably also offer to pay interest (5-10% fixed) and show documentation of work history, rental history, taxes, a handwritten personal letter of interest and motivation for wanting to purchase the house and anything else.

I'm doing my due diligence on a multi family (5+ unit) apartment complex in Texas. 

My company solely invested in out of state apartment complexes. 

You should do some more research on the complex.

Associations can differ from complex to complex.   

So I start checking court records and prior landlords. 

There are a lot of things about crowd funding, which have not yet been challenged in court an/or haven't gone through appeals.