., the management company was on board from the very beginning, and a huge part of the analysis.  

We are selling a property and a person tried to bring a couple buyers to us.

and am interested in exploring working with investors to enhance new properties or renovations in exchange for knowledge and a cut after expenses.

He probably knows everybody in Aberdeen  by name:).Personally, If I am to invest in Aberdeen I would first do an up-fornt investment and hire a property manager and a handyman.

I have 2 credit cards and a auto loan.

It can be harder to manage over an hour and a half away and even with the lower rents it takes a while to find good tenants because people there just don't make as much--and we don't allow dogs, which many people in the country have. 

It includes a both a year-by-year mode (10 years); and a month-by-month mode (24 months) designed with re-habbers in mind.

Specific to the underlined portion below  "However, tenants who would otherwise have protected status may be evicted if the unit is the only rental unit owned by the landlord in the building"- how would this impact a duplex where the new owner moves into one unit and a protected tenant is in the other unit?

Unless you want to pay all cash, use leverage and a 20% down payment has you in the $250-300k ballpark.

@Khaled Helmi, the best advice I can give (although you may not like it- I know I didn't) is to get (or find one for bidding and vetting purposes) a set of plans you're happy with and a list of specs and bid it out to different builders/subcontractors.