I recommend talking with an attorney to see what options make sense for you.Once you have the ownership/legal entity situation handled, you'll know how many accounts to have.

I am inclined to this option as it would allow me to return home to assist my parents and save money while pursuing my law degree.- Does anyone think this is a sound idea?

being a "generalist" is not really an option in commercial in my mind. 

Starting on the blank slate may be the best option.

Also if I feel they are not actually motivated to act on a deal I send them I would rather not send it to them.Maybe a better option would be to communicating to your current realtor that you want them to be actively looking for you and sending you on market deals.

@Stuart Udis Thanks for breaking down those different buy and hold options.

Foreclosure, pre-foreclosure, REO and MLS all have viable options.

Explore New Haven County's opportunities, including multi-family properties, strong rental markets, and owner-occupied financing options.

Another option, to echo what @Andrew Steffens said, would be if you're serious about this business it might be worth your time to work with a licensed property manager to learn the ropes, gain some credibility, and figure out if this is something that's a good fit for you long term. 

If I can get a heat pump done for $5K vs. a forced hot air system for $15K and its a LTR where the tenant is responsible for utilities, why wouldn't I go with the cheaper option?