Residential loans do care about personal income but commercial loans will rely VERY heavily on the property itself. 

I currently have 3 rentals in the metro Phoenix area, 2 in Orlando, 2 in Tampa and my personal residence in Austin.

I would be happy giving the person 2 years notice!

Beyond that, it'd be like hiring a general contractor for a remodel but hiring all the subs yourself - it defeats a huge purpose of hiring that person.

Hoping to meet people both online and in person.

Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meetSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

If you uncover that answer, it may shed some light on the investment (maybe it's good info and it satisfies my skeptical approach)I have found the biggest three seller motivations (with landlords) are:1) Tenants are subpar and current owner is tired of managing (in this, you're inheriting headaches, eviction, and much higher repair costs than you expect). 2)  An estate took over and just wants to get it gone (in which case there is probably a back balance owed that needs to be flushed out along with a general lack of property knowledge). 3)  My personal favorite: the Owner bought via tax sale deed (and therefore does not want to be a landlord, just wants his investment + reasonable return).If everything checks out, it sounds like a great deal bud.  

Send personalized, hand written thank you notes after your open house to everyone that attended. 

Or better, if one of you does not have the condo in your name, that person can get a conventional 5% down loan for up to 4 units through the HomePossible loan.

Do multi's need to be purchased in your personal name in order to obtain these types of financing?