Jim, Do you plan to occupy the home or are you planning to rent both units out? 

You are likely going to have to spend more time helping your mom and better to enjoy the quality time you have left with your dad.Go through each property and write out what it brings in, expenses, etc and rank them as to the one you want to get rid of first.

My wife and I are educating ourselves and working on our investment strategy to help her retire from nursing and spend more time with our kiddos. 

It looks like in VA if you have 4 units or less they give you some leeway on notice of rent increases and notice of payment plans.

Unfortunately, Colorado has just passed HB 24-1098, the "just cause" eviction bill, which requires landlords to offer lease renewals to their tenants unless one of a few specific criteria are met (if the property is going to be sold, substantially repaired, or renovated, or if the landlord’s family plans to move in - but basically you can't put it up for rent to anyone else for at least 90 days).

Hi! So a bit long winded post but I'll try to keep it short. 

I have decided (with a partner) to start a real estate investing company.  The strategy we will use is buy and hold rental properties out of state. I am...

Spend $10 on due diligence before giving someone $10,000.

Know that lawyers are expensive for both of you though, and they are happy to spend your money at $400/hr or whatever.  

Within the next 2-3 years I plan on buying my first home. 

I’m a Senior in highschool planning to go to college for Business management - real estate minor.