To ensure I navigate these legal aspects correctly and make informed decisions, I’m looking for recommendations for a knowledgeable real estate lawyer or legal entity in the area.

What other aspects should I keep in mind and look out for in a property of this age and condition?

Previously I've used SmartMove by Transunion.I'm looking at the TransUnion Full Credit Report on RentPrep and it seems to encompass everything that the RentPrep background check has but I'm not clear on how it differs from SmartCheck Premium (also by transunion).What am I missing here?

Great place to learn about lots of different aspects of REI.

This year I have also hired a bookkeeper at $50/hour to take care of the rental aspect of the financials.

You jump into some aspect of real estate investment and in your first year, you make $50k. 

Securing a sponsor can be challenging, especially when they have concerns about your capabilities to manage the property and keep it profitable.So, let me share a suggestion that might make a potential sponsor more comfortable:Offer to have them oversee the asset and property management aspects, including the control over cash flow.

About 5 years ago, I decided to get my RE license as I kinda predicted legislation being put in place against wholesalers (which slowly seems to be happening) and my thought was if I was licensed, I would be able to continue marketing to home owners (not to assign, but only to purchase for my own flips/rentals) So, I'm seeking guidance on a business concept that encompasses my knowledge, experience and licenses.

It would be advisable for the potential purchaser to thoroughly investigate every aspect of the property prior to purchase, including, but not limited to, the location of the property, type of buildings, if any, on the property, determining what, if any, liens or encumbrances exist on the property, and any other facts which may be pertinent to the contemplated purchase.

They provide excellent, practical advice on every aspect of MTRs.