It's a half day event.

I am also wary that the landlord is a family friend, and I don't particularly want to sour relations, in the event that I decline and the sale doesn't close.Any advice would be appreciated.

I think Brian covered most of it, but I would add attending the local REIA group.

While I have been apart of deals, and have read plenty or book and attended numerous seminars, I don't know enough to fulfill my duties as a mentor. 

And you get the benefit of having over 100 past ones to catch up on.Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info.

You are more than welcome to join us as well.Good luck, and send me a PM if you have any questions, or if you are interested in attending our meet-up.  

Ok great, being a rookie like myself would it be beneficial to attend the one on March 8th?

If anyone is interested in attending please let me know asap.The cost of the entire thing was $197 for two persons, so it won't hurt me to split it, though it is not a requisite.

I have already researched REIAs in NJ and PA and plan on attending some meetings next month. 

Sometimes these folks are self-serving.If you are looking for some guidance in finding properties, you may want to attend public auctions, track down sellers of expired listings, attend rent and housing court in your community.Driving the neighborhoods is a great way to find unwanted real estate.Good luck