I wouldn't even know where to start on tackling that sort of tax question. 

The price range that I'm looking for caps out at around $130k, this is based on just running some numbers, I don't see anything that seems to work above this price range.I'm primarily looking for B quality properties, but would be open to C properties.I'm also looking for a Single-Family property to start as an introduction (again this will be my first rental) with plans to try to purchase one property per year, transitioning to multi-family at about the 5-year mark.As far as rehab goes I'm not looking to do any major repairs (roof, foundation, electrical, etc.) but would be willing to tackle interior renovations more willingly (paint, flooring, bathrooms/kitchens, etc.). 

Creative finance will play a big part in our ability to tackle these bigger deals.

Regardless, those cast iron pipes are 60 years old at this point so tackling this issue is probably a good idea, and if I were in your situation I'd either 1) take on side hustles, save money and pay cash or 2) HELOC it, fix it, and take on side hustles and pay off that HELOC.  

The rehab is going at an average pace but we’re almost ready to tackle....this really awkward bathroom!

Is it better to tackle all that BEFORE jumping into anymore real estate??

I often find if people have done their own taxes and itemized (and maybe handled a few credits or capital gains) they may have the ability do background to tackle the schedule e ( and there are resources out there for help, too) ..

You youngsters all want to live in a loft these days, I still remember when it was cool to have forced air with the ducts under the sheet rock.I'm just going to waddle down the hall now and enjoy the fact that I raised 4 kids to be more successful than myself, have some great grand kids with more on the way, my lovely wife has stayed with me on this crazy train and maybe they too will want a shoe box full of deeds someday.You youngsters rock on and get the world tackled, as long as I can still see the screen on my laptop i'll enjoy reading of your victories and not on BP and James I just enjoyed another tenants from hell a couple hours ago. 

I travel a lot, and am wondering are there any special rules I need to abide by if I wanted to tackle a deal out of state.

You already have a good concept of where you need to be focusing your efforts when getting started: Networking and Educationposting in the forums like you've already done is gonna be a great way for you to tackle the networking aspect, and BiggerPockets has a lot of great educational resources (books, bootcamps).