The cost to repair your vehicle, and perhaps the other person's car, will be WAY MORE than the cost of the insurance premiums you saved by not having insurance. 

10% down 2nd home loan and savings from the proceeds of already owned STR's.

I have been digesting all things Real Estate so right now I am working to lower my DTI while saving at least 6-7% for the Owner Occupant down payment (to include closing cost, etc.).

In that case you might save taxes building with them.

The pros of not using an agent are you save a few grand the cons are who is going to be negotiating and creating the offer and purchase and sale agreement.

Eliminate debt, establish a budget, and save.

The units are all currently occupied right now, so we won't have to worry about the buyer's market right now haha.With the cash flow I will receive, it will be enough to take care of property taxes, insurance, and enough to save up for any emergiences with the unit that I will need to take care of, so no need to worry, I got you :)!

By and large, QI's have very high ethical standards, and are sometimes overlooked as the engines of this tax saving tactic.]REPUTATION MARKERS 📊INDUSTRY STANDINGMembership in professional organizationsLeadership roles in FEAEducational contributions to the industryRelationships with major title companiesCLIENT RELATIONSHIPS 👥Testimonials from CPAs and attorneysReferences from title companiesLong-term client relationshipsTransparent fee structuresRELATIONSHIP RED FLAGS 🚩Overly familiar with your realtor/brokerKickback arrangements (illegal!)

Should I go through with taking ownership of the property and try to salvage it for profit or do I refrain from even involving myself in the situation as it may cost more than it's worth to save it?

Meet with a local banker & schedule a time to talk with a mortgage broker, they'll give you at least a baseline of what kind of down payment options and rates are out there.After that, if you're still wanting to research more creative options, do some looking into seller financing (a very hot topic with good, and bad, advice out there), look into private lenders, and commercial financing options.If you're wanting to live in 1/4 of your quadplex, then conventional residential loans may in fact be your best option as you can purchase that with a fannie/freddy loan with very low down, and use up to 75% of the income from the property toward your own income.