They typically have a "designer" or "consultant" for free that can give advice (or research in your case) specific items.

AlabamaEffective Property Tax Rate (2019): 0.37%4Typical Home Value (2022): $189,9766Annual Taxes on Home Priced at State Typical Value: $702.9The current metro area population of Montgomery in 2023 is 374,000, a 1.91% increase from 2022.

Lockup is typically one year though if invest larger amounts these can be negotiated. 

I received a quote from a broke that mentioned it will be ~$30k/unit (seems high), which should include adding washer and dryer units to the apartment. 

As a result, I received early notice he was looking to sell.

Look at rental rates, vacancy rates, and typical property taxes in your target area.

Haven't received any call back yet. 

You need to pay it even if you didn't receive it from the previous owner.

Typically we see a good elementary school and then goes down hill from there. 

If it is that simple, do we receive cash from the the mortgage holder/bank and then just pay off the first two parties via cash?