They should be mutual indemnification clauses.Here is typical language we propose and 90% of the time it is agreed upon, as it is short, sweet to the point and protects both parties: (note I am not an attorney and recommend you always have an attorney review any items in an agreement)Owner hereby agrees to indemnify and defend and hold Manager harmless from, and to defend Manager against, any and all claims, charges, debts, demands and lawsuits initiated against Manager in his capacity as Manager.

As an agent I always tell this to my investor clients who are looking to sell:If it is a single family home - you are better off selling it vacant with fresh paintIf it is a duplex/triplex/quad - leaving one unit vacant and "rent-ready" can be beneficial. 

Staying local for the first one might be more beneficial.

Would attending a real estate school or taking specific courses be beneficial in understanding the fundamentals?

Depending on how easily this could be done, I would have have tenant sign a mutual early termination agreement and let him move out.

@Sam Peterson,  I don't think the two approaches are mutually exclusive. 

I would love to connect and discuss what my strategy is and in return get feedback from a professional in the area in hopes of finding a match that would be mutually beneficial and lead to a strong business relationship. 

U do have to have mutual signed instructions to get your earnest money back..

Investing in a REIT is normally pretty straightforward -- although some "REIT" investments are really mutual funds or ETFs that themselves own some REIT shares or track REITs.   

Consulting with a financial advisor or real estate professional may also be beneficial in determining the best course of action for your specific situation.