If he doesn't want to get crushed with taxes, seller financing is a good option or get in touch with some financial companies that are offering DST's that he can 1031 exchange into or find a few NNN lease properties nearby that are listed that he could buy. 

Inwood is also nearby with great opportunities on Rawland.

Thanks for all the help.I'm likely going to see this one through (it's part of me trying to diversify my holdings), although I will say that I probably won't be purchasing any other places in the nearby area.

The goal I think is not to wait so long to take action that you delay for years and years while stockpiling cash, but to be constantly uncomfortable about things and paying extremely close attention until you do. 

How do your current rents compare with others who already have streetcars nearby them?

Based on research of recent sales in this particular condo complex and nearby 1/1's with similar square footage I feel quite secure.

Have a small notebook nearby while listening.

It keeps me from having to stockpile reserves for repairs and so fourth 

Networking with nearby experienced investors here can help in finding a potential mentor.

Check out the nearby members and network at https://www.biggerpockets.com/meet, it will help you a lot to find partners that can help you out in investing.