And keep in mind in a major metro area there will be investors and investor groups that will out bid you on anything that is remotely a deal.

There are two opposing strategies that jump to mind. 

I want to learn as much as possible - I don't mind starting from 0 and just learning and seeing everything I have to do before jumping into investments.

I will definitely keep you in mind once I start looking into that aspect of real estate, and I really appreciate the offer to help me learn about all the options available.

Now keep in mind he at least did 1 correct thing, applied to be added to lease.

I mean if you get it, it will allow you to retain your investors.As an alternative, you can take the route others suggested:1) Fund  of funds2) Partner with others on GP side in an investors' management roleKeep in mind, that both options would require you to have a full understanding of the role and the regulations involved. 

The penalty plus the security deposit (and additional repairs) was far from covering my expenses, but one thing I can tell you- this is a peace of mind having non carpet flooring.   

So we have 3 buckets in my mind - SFH sale (basic), developer sale for the size of land (new to me), business sale (home + business).The most value would be in selling home + business I believe but I have no idea how to market/find potential buyers for such a thing.

Keep in mind, if there is enough depreciation (IRA can't take the bonus depreciation, need to use standard depreciation schedule), that depreciation might negate any positive income.

As far as legal advice, anyone in their right mind will tell you to hire an attorney.