I've personally driven this neighborhood and was amazed at how nice and clean it is.

With current interest rates, and they are at least 1% higher with potentially additional points for non owner occupied property, it is hard to find properties that will allow for positive cash flow after paying the mortgage, if you are looking for money for the down payment from a private lender, those are normally at higher than market and I am not sure it would be possible to pay it off.... please remember you need to take into account that you may not have a tenant for a certain amount of time, a tenant may stop paying rent, or you will have a big ticket item to fix, so I would wait if I were you and save to have enough for the down payment and closing costs and perhaps some money set aside for repairs. you also want to make sure that you have your own emergency fund outside of the money needed for the investment property because life happens ....

I figure REI is like most other things in life… hard work and persistence will get you there.

We would like to learn about how we should have went about it so that we can purchase more properties, minimize mistakes, and reduce our reliance on corporate life.

Personally, I bought a 3 bed single family home soon after starting my job and had two friends from college rent which covered my mortgage plus a little extra.

Quote from @Havital Miltz: I do not know that if someone is in the hospital you can force them to close, I am not an attorney, but I doubt any court will find in your favor, closings do not always happen exactly on the day that is planned, even if everyone is healthy and well, the wholesaler here is not the reason for the delay so I am not sure what exactly you can sue him/her for, they are also being held up due to the seller not being wellJust give the person some time to get out of the hospital, closing will probably not happen the very next day either, this is really extenuating circumstance. 

It's crucial to consult with professionals experienced in 1031 exchanges and partnership dissolutions to ensure compliance and optimize tax deferral.Given the complexities, seeking personalized advice from a tax advisor or attorney is highly recommended.

What do you want your ideal life to look life?

Sounds like the person knew what was going on with their credit report as they have filed reports in the past. 

She'd probably be able to put you on the line as a co-borrower.I've done this personally and it's been great for me and my situation!