Don't over leverage yourself, and try to retain as much of the original cash flow as possible while picking up an asset or 2 in a higher appreciating neighborhood. 

This would allow us to retain the tax identity of the partnership but also split the purchases between each of the partners. 

Even if you are short by $3k when the time comes, you should be in a position to have $3K in your retained earnings throughout the years. 

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

Also not sure if retaining any of these properties after your parents die is something that you're interested in that requires property tax planning. 

Their coaching is not cheap, but I think the thing that separates them from the one-time seminar gurus is that they offer a series of classes designed to deepen their student's knowledge so that they end up with a well-rounded education, versus what you can get (and retain) out of a single 3-day fact-filled seminar.

If I'm on a job for some reason; and there's something that needs done that needs some muscle, you can bet I'm not opposed to asking a man for help. 

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

On par with someone who retains what you say for 90 seconds and carries food for 40 step's?     

Currently, the rental income would not cover the mortgage payments, but I'm considering refinancing if interest rates decrease (possibly conventional to free up VA entitlement) as well as adding a fifth bedroom to increase rental income.My Plans: I intend to retain the NC property due to a stable tenant with a recently renewed year-long lease.