I know investing with family can possibly hurt relationships if things don't go well, so I don't want to make any big mistakes since this is a large amount of my parents inheritance. 

Eliminate debt, establish a budget, and save.

No off-street parking = not worth doing MTR unless it meets all of the following: super urban area where no parking is the norm, highly desirable area with a ton of MTR demand, super safe part of the city, and has great public transportation (think NYC, Hoboken NJ, etc.)Unless it meets all of the criteria above, I pass on those opportunities because my MTR will be eliminating the many people that travel with their vehicles.

Day traders are not exempt unless they elect mark-to-market (MTM) accounting, which eliminates wash sale tracking but taxes gains as ordinary income.To manage taxes, track trades closely, avoid overlapping purchases, or consider MTM election if trading actively.

If you didn’t hit some of your goals, analyze what caused you to not achieve them to ensure you don’t make the same mistakes again the following year.

While metrics like square footage or price per square foot matter, the number of bedrooms, bathrooms, and overall location are often more critical for attracting tenants.Engaging a property manager early on can save you from costly mistakes and help you invest in properties that perform well in the rental market.

Selling before death would be a costly mistake   - you did not explicitly state this was not a multi family but it seems likely from your description.  

Eliminate debt, establish a budget, and save.

Investing out of state as a rookie is a major mistake, like starting a land war in Asia.

I think this is a mistake.