The intent of getting a sales agent license is to educate myself in Real Estate and create some additional income.

Michelle Wang,With all due respect, you should make plans to be in another business once you're out of Real Estate Investing (Residential, Income Property).There are Members of our MassRealEstate dot net Association that come crying to me about similar situations as yours i.e.

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. 

For all methods you would want to find a market that has strong employment rates, strong income rates for the market, and is a growing or an established market. 

Just make sure you use a very honest agent that doesn't sugar coat anything and check the crime statistics and household income.

Analyze properties by looking at gross rental income, operating expenses, and the debt service coverage ratio (DSCR above 1.25 for rentals).

No income statement,  no balance sheet, nothing that can give you correct financial picture. 

Years ago, being a property manager was what I planned on doing for my retirement gig.

I'm trying to Figure out how to make this potential deal work.Seller wants to sell but not right away because they still use the house for some income. 

It’s personal to the employees, who are directly impacted by the work culture of the business and rely on it as a source of income.