I have read that people obtain an independent contractor agreement, scope of work, insurance indemnification agreement, W-9 and final/unconditional lien waiver.

Ideally, you should create 2 independent properties if possible, such as a side-by-side twin with separate utilities. 

I want to surround myself with like minded individuals seeking financial independence.

My question was actually independent of the specific market conditions that may have made this transaction an OK deal for both the buyer and the seller.

While those may be true, knowing myself, it seemed far more risky to not be making investments and becoming complacent in a life without taking action toward financial independence.

Two or more wires were connected to one breaker in the panel.This condition can add to the load of the affected electrical circuit(s)causing a possible overload, tripping, or arcing at the breaker(s).Current standards require circuits to be independently protected.Recommend an electrician properly separate circuits.

Thanks Yonah for the mention.Here's how I lost everything - even became homeless.Part 1 - https://www.biggerpockets.com/forums/55/topics/690349-from-bankruptcy-to-1-000-units-part-1-thru-the-dark-tunnelHere's how I rose up and started investing in real estate again.Part 2 - https://www.biggerpockets.com/forums/55/topics/692382-from-bankruptcy-to-1-000-units-part-2-rising-from-the-ruinsand this is how I went from being financially independent to building my real estate empire!

Depending on how large the sum was, I would take ~$100K and start building a BRRRR or BRRRR-key portfolio to throw off income to eliminate my consumer debt, bolster my reserves and cover my expenses so I could hit financial independence and make work optional.  4. 

My strategy is to use real estate to achieve financial independence, to buy back my and my husband's time.

You could still work as an independent and get some work for your flop house bed.Today, a lot of the jobs that the non-skilled workers are doing have been already automated or equipment that one person can use is doing the work of many workers (think Forklift here).In the future, this will accelerate.