I'm betting that you can meet any sensible financial independence goal with considerably less hassle, less risk, and far fewer units, especially if they are higher quality units.

Note that Warren Buffett just won his $1m 10 year bet that low cost index funds kick the snot out of managed hedge funds, so don't assume that higher fees = more micromanagement of your money = higher ROI.

I just don't like those odds for you my friend.If you really like the Atlanta market, then my honest advice would be to move there, study it then, and invest as a local.

My bet would be to just fix 'em up and sell then through an RMLO... if your state allows that.

I bet this was just a mistake on the sellers end, contact your lawyer and take the necessary steps to get your money back.

I bet @Steve Babiak is right, maybe this person just had  a longer live in time frame.

Perhaps an attorney will say it's not a problem to get permission from others to access your property as you wrote ... but it sounds a bit odd to have to ask permission ...

Your best bet to learn real estate is to learn from someone that knows it.

I am thinking to the future, trying to compound my money with time.I'm looking for any advice locals can add to my strategy, or any points I am missing.Some odd points:The reason I would like to keep around the universities is because whether or not in the future the market busts (if you believe the market is bubbling or plateauing) or the Navy expands (adding ships increases the jobs for a time then reduces after need is met), people will always go to college, meaning my first property I plan to keep for some time. 

@Richard Moore As a lender, this honestly doesn't sound odd to me at all.