Mind providing more clarity on the asset you are purchasing and the overall business plan with making it perform? 

We also plan to have a performance deed that will help protect me in the event he defaults and the property will be handed back to me.

The more you spend up front on renovation will help you to reduce your expenses later. 

My thought is to approach her by saying that my original plan was to purchase the property and convert her unit into Section 8 so that I could get the $3,200/month rent -- but since she's a long term tenant, I would be willing to forego that plan and tell her she can pay $3k/month to stay.What are your thoughts?

I am under contract for my second duplex, and am thinking it will be time for me to begin hiring out lawn care, as I do not plan to have means to transport equipment between properties or dedicate time to a low value task.

Won’t reveal cash out plans but just go through purchase scenarios.

It's better to spend your time looking to acquire properties in a different manner.

I plan to hand write the letter to keep it personable and local.

I plan on doing a lot of work myself where I can though.2.)

I moved to Colorado and do not have plans to return to NM Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?