Now, on occasion the attorney might also represent other clients, and will bid higher than the lender's max bid because some other client wishes to acquire a property.

First, let me recommend you read @Michael Blank blog post https://www.biggerpockets.com/renewsblog/2014/10/20/your-complete-guide-to-analyzing-a-property-in-just-10-minutes/ . 

At any rate, I think my longer term plan would be to sell the property and buy something closer to home so that you can put eyes on your property or at least hire a property manager type to go take a peek at your property on occasion.

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My wife is happy when we can go to dinner and discuss something other than RE on occasion:)Shawn

[As a side, on occasion I have seller/private financing which would help you, but it comes and goes.]Overall, your plan looks good but you may need to reassess your down-payment requirement based on whatever financing you maybe able to find.Also, you shouldn't count on the equity from property #1 as part of your down-payment funds since you will not likely be able to pull that equity out in the form of cash without a refinance loan (again, difficult to do, especially without at least 30% equity in the property.)I hope all this doesn't sounds too negative, but I just want you to know what your dealing with.Please stay in touch!

On occasion you can get a great deal through the MLS, but that will typically be with a home that is listed at below current market rates, and will be bought immediately.The most important thing to remember is that banks don't think emotionally.

Good for you - I have discovered long ago that a seasoned investor knows lots more than an agent - agents are trained to protect their broker, represent buyers, list properties and to stay legal - I have always inferred that if agents knew what investors know - they'd be investors  representing themselves.Keep your offer simple - you don't need all that stuff that agents are required to have in their offer (you know agents do not write contracts - they can't unless they are a attorney - they can only legally fill in the blanks on a form contract of sale) - so over the many years of investing - negotiating - developing and trying to make money in real estate - I have the good fortune to have created what I call my Skinny Contract   - this is a one page contract with only one out clause - it is easy to understand by the seller and all involved in the chain that reaches to  the settlement table.    

On more than one occasion Mr.

Blank canvas and you paint the deal.