The blogs and podcasts on this site are great, books, local groups, mentors, ect.Word of warning: don't get too tied up in trying to learn everything before your start.  

Bottom line is your tied down to this situation until death do you part.

Also, give the impression someone is there: leave old shoes clothes out in one of the rooms where someone peeking in might think someone's staying there, leave a stereo going, rent a ghetto dog (pit) to put in back yard, put a visible sign on the inside of the back window that reads "ain't nothing worth dying for in here" don't bother telling neighbors to watch it, they may be the ones ripping you off.

I figure people won't be wearing muddy shoes upstairs in bedrooms so it can't be too bad... right?

You do not want to be tied into a long lease encase she turns out to be a nut job.

Would you make this purchase if you were in my shoes? 

Just be prepared for that.If I were in your shoes I would list the properties on Zillow as a FSBO and get exposure on there and their partner sites.

Which index are they tied to?

I just need someone who tends to tie up actual deals.

When @Tim Herman mentioning secured; means; is this money be tied up to as a mortgage recorded on the property.