We are making a scouting trip to Knoxville on April 1 and would like to connect with a knowledgeable investment real estate agent.

My biggest concern and why I did not start out thinking "flip" for my first deal is that I have a 2-hour+ commute each day, round trip.  

I don't suggest tearing it out, it's old, has character, and people love that.

I have records of all amounts due, and all correspondence (and facebook photos of their trip to Mexico!!). 

I still make trips back up regularly.

I have not used them as I've always done my own painting , but I've known the family for years and will recommend the men based on character . 

Because you will be investing from out of state, there are a few extra steps you need to take to insure your success.I would highly recommend planning a trip to Kansas City BEFORE you purchase anything.  

If the numbers are there that's what matters so don't worry about that & the deal is fair go with it.If the seller agrees to sell it to you and you know them or trust them to be a good character I guess but the contract is the " lockdown ".

If you own the entire building, you could sell a 50% interest to your father (as a tenant in common), but you would trip the due on sale clause of your mortgage and the lender may accelerate repayment of the note.Since the building has appreciated, you will also be looking at a taxable event and will owe capital gains on the sale and, potentially, a CCA recapture.It might be best to review with your accountant before pursuing this plan. 

The main characters you will likely need on your Team are Attornies,  Inspectors, CPA's (accountants),Agents, General Contracters, and Handymen.