Nonetheless I felt at this time it was better to go ahead and outsource it.

Just a heads up, when working with different partners across different LLC's that are layered, you'll need to invest some time into getting it set up properly. 

I would plan to just go ahead an vanilla shell the remaining half while I'm at it (surprisingly few people want the ability to customize their space, they want it to start as vanilla). 

The question I have is whether I should send a courtesy letter ahead of time letting the tenant whose lease I won't be renewing know that they need to be looking for new residence as long as the sale goes through, or if that is too much of a risk since things are not finalized yet.

Although, this is totally something I considered before going for the deal and know I’ll have some learning curves ahead of me.Appreciate the questions!

You don't necessarily need a letter of intent prepared ahead of time, but it helps to have something ready to go if negotiations become more serious. 

Hoping like many to become a real estate investor over time, but for the moment I had a question which I'm having a lot of trouble figuring out:What would be the best / most appropriate insurance configuration in this situation:- My wife is the title holder for a single family home- She does not live at the home - Her parents live at the home, rent free- Her brother pays the mortgage on the home and he plans to rent out two rooms in the house to long term tenants (strangers)- Her parents will continue to live in the rest of the home, rent free (this is fine, just putting it here in case it affects the insurance)- My wife and I are able to visit the home at any time and do so regularly to see her parentsAll I want to make sure is that we (my wife) are covered from all angles on insurance.

What tips can you give me on starting out and what I should do at my age to get ahead?

With that said I only have about 30 K to invest so you're way ahead of me there.

So find a training event in a location where your spouse has always wanted to visit, like Orlando or Phoenix or something similar.