Got all the financial data in place.  

All things aside  I want to make the best financial decision and not rely on my emotions. 

The ugly details are where the real learning happens so if you want to know about the deal, agents, contractors, taxes, regulations, contracts, financials, etc., while I go through the process, I’m happy to share my experience.

Can you provide some more insight to the current financials?  

I'm getting my financial foundation in order right now, but soon I will be ready.

I personaly am closing currently 2 to 5 a month and find it very satisfying and empowering not to mention financially beneficial to my students as well.

If not, then move to step 4.Step 4: After stabilizing the cashflow/property, prepare your personal financial position to allow for you to buy out your partner and continue on your own moving forward.Step 5: Find a bunch more deals and rock it!

But, my understanding is that, most importantly, I'd have built up home equity with this purchase and will be in a better spot financially to purchase a home for myself, once I'm ready.

Also, once you have the market identified what are some of the best ways to familiarize yourself with the market financially?  

Budgeted $40k with my contractor but $50k in my financial analysis, so yeah, we should be able to cover this one...everything you read says you will make mistakes, no matter how much practice and prep and mentorship.