After looking into it more, I'm concerned about potential tax implications and legal issues, such as piercing the corporate veil.

At least this next potential home is only a single story so I cant fall as far. 

Add some escalator, such as 3%, for example, to account for potentially higher costs after closing.  

Consider what questions the potential mentor may ask and how you would answer.

Reasoning for asking this is that it could potentially be a beneficial long play on acquiring a property through assumption, and as we go down in interest rates, utilize this monetary benefit to refi as it comes at a mere .5%.

You can use Airdna & other STR estimator tools to get data on potential income/vacancy based on your location and property size. 

We still see 1% deals here that bring positive cash flow and have potential for appreciation. 

The unique architecture and potential of the property, as well as the money making potential that it had.

We are looking into houses on the lower end of the scale at first to get started for a "low risk" (we could pay mortgage out of pocket no problem even if property is vacant for 30 years) house that will give us the experience we need as rental home landlords - and I am looking down the road at potential investment ideas to keep this thing rolling.

Quote from @Blake Grzybowski: I am a wholesaler in Michigan and would like to start reaching out to potential sellers who are Maybe foreclosuresdaily.com, maybe see if any of your title company partners has access to titlepro software for leads.