Though this may be repetitive, I encourage you to take full advantage of this site.

Kids come with parents that care and want stable lives for their families.I specifically bought 2/1 to encourage families. 

As Mike said, newbies make huge mistakes due to a lack of knowledge, experience, and due diligence.On the subject of utilizing a HELOC for down payment funds, that is a great strategy that I teach and encourage each and every day.

Then I set an interest rate that is high enough to encourage my buyer to clean up theri credit and cash me out as fast as they can.  

This is more of a general reference on how to treat your fellow humans to get the most out of your interactions/relationships.  

I don't yet have much to offer in a business sense but I hope to give back what I can and offer encouragement to others as I go.

Thank you to all for the warm words of encouragement!

The attitude you display may give you a reputation, what if everyone had encouraged you to buy this even though the deal stinks?

We've had the opportunity to interact with thousands of investors and developers (been providing analysis software to those folks for 30+ years), and from that perspective I can agree completely with @Brian Burke.

I would encourage you to do more homework on the “historic” aspect of this deal, as it is typically not a simple process (unless the property is already listed).