This could help decide if the income is enough.  

Ok, yes that's a bit cheeky but seriously, your talking about some very important, regulatory/law stuff, if your not willing to do the most simple basic actions of simply googling the laws, and reading through the statutes, I am sorry but than my time and effort has not been earned to help guide. 

@Dave Chengoue there are a lot of opportunities in the area, the main thing is to create your team to help you execute.You also have to evaluate your strategy.

For example, with cash for keys you don't give that to them until they are out, BUT they may need help getting out.

I am seeking mentors and or guides to help me invest in business that can eventually help offset W2 income tax.

This helped our CPA know exactly what transactions related to the house.

My budget is in the $200-250K range.Please feel free to let me know if additional details would help, and thank you in advance for your time and advice! 

I am in it and feel it is worth it as they have groups all over the country who, with experience transaction coordinators and funding groups, and even closers to help you along the way.

This will help you close deals faster.Focus on marketing and lead generation to find motivated sellers—direct mail, driving for dollars, and online marketing all work well here.Know your numbers—being able to accurately assess the value of properties and make solid offers is key.Network with other investors and professionals—attend local REI meetups, connect with title companies, and build relationships with hard money lenders.Feel free to reach out if you ever want to chat more or exchange ideas!

We typically have a specific criteria of contingencies we are putting into place within the purchase and sales agreement to help protect our investor clients from many of the issues that arise when inherenting tenants.