Tax Breaks- I am not an accountant, but I recommend conversing with one to see all of the benefits to owning a rental property.

FHA loans are designed for primary residences and require the borrower to be an individual, not a business entity.

So you would spend around $25-$30k a month (this was 15 years ago) on police details and require union gate and non union gate if you had non union workforce as well.In DC area, the utility providers are a huge challenge, whether getting permanent power, or water/sewer service etc - good luck.

These types of properties require experienced management to navigate the challenges effectively.

I'd say, if you can renegotiate the purchase price and get the knob and tube replaced I'd recommend it. 

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

For starters, I recommend to begin with a single family home or if you are looking to start locally, do house hacking. 

Any recommendations from the BP Community?   

Quote from @Melanie Thomas: My recommendation is base salary plus incentives surrounding KPI's.

You can put a mortgage into a "trust: without triggering a due on sale but again contacting your bank/lender is the best route to avoid any issues.Some banks/lenders or servicing companies change guidelines and even a trust may require other paperwork but the attorney usually facilitates that to be safe.