And another advantage of being an Investor/Realtor is that you may hear about deals that call you to list or even within your office that other agents are about to list and will bring to you first to see if you want to buy it.Most Realtors would like the easy route of selling homes to you rather than doing the listing expense of signs, staging, photography and marketing expenses.

I expect the bankruptcy filed has cleared the way for a clean slate and have heard the city is coming back and may be in the early stages of bouncing back.

I am pretty much in the same boat as you, in terms of current stage of the process you are in. 

Tenant shall be held responsible for water damage caused by overflowing toilets and/or drains.Take no action which would cause a cancellation or increase in Landlord’s fire or liability insurance.Obey all environmental laws and keep no toxic, inflammable or dangerous substances on the Premises.Prevent the accumulation or buildup of mold or mildew throughout the Premises by notifying Landlord immediately if any evidence of water leak or excessive moisture, mold or mildew appears.

I agree it was excessive but that is the downside of relaying on a PM. 

Locations: Just the baby stages of everything but I am looking into Atlanta and it’s surrounding neighborhoods as well as Cleveland for now.

You could raise their rents to an amount that is in line with rent control guidelines and slowly bring everyone up to market over course of a few years, if current owner is under-charging.Everyone has a different strategy, but I think it would be best to avoid kicking current residents out of their homes unless they are really causing issues or the rents are so grossly below market that it would take an excessive amount of time to get them up to their fullest potential.

We got this :) I'm still in the learning stages right now.

I realize the GND is not well defined at this stage, but I'm wondering if any one knows of a source describing the types of regulations being considered. 

There are other categories of accredited investors, including the following, which may be relevant to you:any trust, with total assets in excess of $5 million, not formed specifically to purchase the subject securities, whose purchase is directed by a sophisticated person, orany entity in which all of the equity owners are accredited investors.In this context, a sophisticated person means the person must have, or the company or private fund offering the securities reasonably believes that this person has, sufficient knowledge and experience in financial and business matters to evaluate the merits and risks of the prospective investment.