Great episode As I am reading Cashflow Quandrant now by Robert Kiyosaki he mentions the B Quandrant quiz which says “Can you leave your business for a year or more and return to find it more profitable and running better than when you left it?”  

I’m concerned about potential future losses (both income and property damage) and want neighbor tenant evicted.

And why did he leave?

If you already have access to $40K for a downpayment, I would start with that and leave your property alone. 

I'm looking for advice and or precautions.Some questions and concerns I have are:Collateral?

I am not comfortable buying out of state with zero experience as well as when my Family and I leave Hawaii to move back home to TX it will be our first house for our family!

We are not planning to go down the sell by owner path again, so that leaves us with two choices. 1.

I had to leave work immediately...

Is this a valid concern at all?

I would certainly take a hard look at the structure and look for possible areas that have been overlooked.As for your other concern, $2200/ mo is very suspect.