So a lot this process for me is going to be based on blind faith in the professionals that I wind up trusting.

You have definitely included some steep hurdles for any property to overcome.  15% yearly set aside for maintenance and Capex on a newly renovated property is what I would expect an investor to include if they have little faith in the renovations.  

The 90-day notice shows good faith and is plenty of time for them to find a new place.   

I would be placing my entire faith in a property manager.

Particularly where I am in Franklin, I've got a lot of faith in the town and prefer it.

What alot of people don't understand is that the attorney works for you and is obligated to follow your directions so long as you are acting in good faith and not trying to pull a fast one, doing something illegal and they have an obligation to provide good council, it's up to me to take it or leave it.

It is a big leap of faith when you buy your first one. 

Do NOT blindly throw your money around or jump at a leap of faith. 

All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved.History.

I know it can feel a bit daunting at first but in the end it's really all about some simple math and a little 'guts' to take that first leap of faith into the market.