Whats your number/email I can send details and pics?

In terms of your question about owner disbursements, I believe all the Columbus ones I know of disburse at the end of the month. 

A 1031 exchange will allow you to sell your building and use the proceeds to invest in a small multi family and/or medium term rentals.

My one tip would be, its not about getting wealthy quickly, but more long term.

If I understand correctly; the seller would receive 80% ($40,000) directly from the mortgagee at closing and would enter into a personal agreement with me for the 20% down payment ($10,000) in which he would be reimbursed separately from my mortgage payments at a separately agreed upon rate and term?

I think you're on the right track in terms of it's proximity to other MSA's.  

Most look at a Certificate of Insurance and confirm coverage limits but best practices are to (1) become added as additional insured under contractors policy and (2) understand coverage exclusions which are not going to be detailed on an insurance certificate.

David, this deal could work, but I’d want to dig into a few things first. 80% occupancy with long-term tenants is solid, but what happens if a major tenant leaves?

Have you obtained any detailed cost/benefit analysis quote?

I  have a detailed reply above that explains it and provides the code citation to read as well