I am 22, and my wife is 20 years old, we have about $20,000 saved up, and would like to start investing in real estate, to build wealth for us  now, and for our future.

The pros are having access to the MLS, saving the commission or making the commission, being licensed to broker sales, building a career with brokering, etc.

That's my ultimate question I need answered-do I want to wait around for a possibly better prop to come on the market, and run the risk of losing a shot of trying to put a good deal together on this?

Start saving some money up in the meantime so you at least have some available cash.  

My wife and I staged the property ourselves and saved a few thousand by doing so.

They also have 1% or greater interest on both checking and savings

We have the capacity to save around $4,000 a month or so from my paychecks and want to begin saving as much as possible for a future down payment on our first property.

If the heat is radiators from a boiler, you have to separate the supply piping and return piping for each unit, then you need the extra boilers as well; you might be able to re-gun the oil boiler with something like a Midco Economite to save some money on a boiler, assuming existing boiler is in good condition and not too oversized for the biggest rental unit.One thing to point out is that you will now have multiple burners.

***Renting in the area is thriving because people are unwilling to pay market value for a house, unable to save for a down payment or uneducated on the minimal cost barrier of entry to home ownership.

With this same property and an estimated rent at $1000 a month here are the numbers:Mortgage $485 (75k at 4.75 for 20 year amortization)Taxes $100 (This is a guess because I have no idea what they would be in your properties area)Insurance $50 (This is also a guess but I am basing it off of my own rentals)Property management at 10% $100 (This depends on if you will be managing it yourself or not)Capital expenses savings for repairs 10% $100Vacancy 10% $100Monthly cash flow = $65 (6% APR rate of return on your 13k left in the property).Now there are several variables in this example.