As of January 1, 2013, it explicitly added debt buyers to be included under the act.If this is true, is there anyway around it?

Have respect for people and let them just look elsewhere.I would personally focus more on financial ability to pay than I would worrying about a child. 

It really struck a cord with my financial position and needs with my current full time career.

It's a business, if you find some is abusing it financially (not paying rent) or physically (damages),, you push the envelope and write up a lease violation and if necessary evict.. doing regular inspections let's you bill tenant for undue damages when they occur.. and yet still have the deposit left to help when they leave.If you haven't yet,, download copy of the landlord tenant laws for your state.. 

So, my opinion (Not legal or financial advice) is, do whatever you need to do to put money in the bank so you can make this a cash transaction.

Make sure your PM has experience so that your portfolio and financial well being isn't jeopardized by their learning curve.Best of luck to you!

to have control over my family's financial future

I work Bankruptcy operations at a major financial institution.

Our debt is low (other than current home mortgage) and our credit is excellent, if that makes a difference.Thank you!

The tax " penalty" will probably service the debt difference on two singles over a duplex and .you get better tenants.