When managing multiple applications, it’s crucial to ensure your process is both fair and compliant with local, state, and federal housing laws, including the Fair Housing Act.A best practice to avoid any perception of bias or confusion is to process and work on one application at a time.

Don't start throwing ideas at them like seller financing or numbers etc until you have an idea of if they actually intend to sell and what their needs are around the sale.This is very practical advice and I agree with the sentiment about not going into a conversation presuming anything about where their headspace is at.

Best Practices for Finding a PartnerWhat are the most effective ways to find a solid investment partner?

There is a formula that you must follow if you want to perform, having a realtor who knows the market inside and out and practices what they preach is an absolute necessity. 

Quote from @Alecia Loveless: @Jonathan Bombaci I think a good lawyer that has passed the bar to practice in two states is going to be more expensive than $200,000.

This is a practice by some less than reputable companies.

In the meantime, I would like to gain experience through employment with an existing real estate or property management company.Is there anyone out there that can provide me with some good advice/guidance as to the best and most practical route to achieve that goal?

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

It’s standard practice and an essential safeguard for landlords.Trust your instincts and treat this as a non-negotiable policy.

When I had my own real estate practice, I advised landlords on tenant issues, negotiated cash for keys, and filed evictions.