Zach I know what you mean, we are working on establishing a steady flow as well on free and clear rental properties of  at least $5k per month by the time we are 50 or hopefully sooner, we are not interested in wealth but if it comes than it's welcomed ;) but honestly we want to be able to sleep in!

With the recent ruling by SCOTUS regarding gay marriage, I wonder what will happen in States (as Michigan) which have long established dower rights?

We do not plan to move from the condo without a lease agreement established, and we are going to do this for a year to see how it works out.

This January I bought an established profitable business for my wife and daughter to run.

The broker should be able to pre-qualify the borrower with regard to requirements such as minimum credit score and establish borrower income level. 

If your intention is to establish a long term relationship & close deals thru the agent then many will pull your comps for free because they will be compensated from the purchase/sale of the property.   

You can spend months discussing among yourselves what you need and what each would like but I feel confident an experienced attorney can get you there much quicker and help you organize yourselves more effectively but to answer your question yes there are established laws that govern what you can do and how you need to do it to be within the law for what you propose to do.

Shane,Yes the building is "incorporated" and registered within an established historical society along with many other buildings in the area. and is eligible for tax credits. 

Once you have established a decent portfolio, I might consider multiple markets, but take the time to set up a strong network you can rely on in your concentrated market before branching out.

In regards to building credit I highly recommend you start now, I know CapitalOne and Bank of America will give you a credit card even if you have no credit history at all, that's a good first step to start establishing credit.Also if you haven't already, start saving some money!