We got the documents from someone we knew in the Pontiac area who owns apartment complexes and had his paperwork created by an attorney, and then we just adjusted the documents to fit our business.

It’s what makes the most sense to you and fits your vision for yourself.

I used a mortgage loan broker who found a great package that fit my needs.

You have some time before your son starts school so I'd say option #4 seems like the best fit. 

I think you need to analyze what your skills\assets are and pick the model that best fits those.As an example, if you are in the construction industry and can do most anything then flipping might be the way to go.

Secondly fire the property manager if they arent being fitting your needs.

Crowd sourcing is one of the few options for non accredited investors, but it may not be a perfect fit for all accredited investors. 

As far as backing out yes you can request your Escrow deposit back during the inspection period for any reason you deem fit, many individuals will say it is a free look however professionally that not the best description since it is not free, with any due diligence you invest in inspections and other professional services to answer as many unknowns as possible to remove as much risk as you can prior to purchase.

There are hundreds of options available and its all about finding that right fit that doesn't put you in financial jeopardy.

What he will do is maybe come out once a month to show you whatever dogs are still listed when he happens to fit the drive into his schedule, or more likely sell your contact to a local realtor who will get less money for taking you out to see listings.