Days held is too short - I don't think it's realistic to complete your scope of work within 20 days, especially since this is your first project after getting back into RE.  

The rule of thumb for property value should be a min. of $100k. 1% is more realistic than 2% in most markets.

Not saying that they're offering you a good or bad deal, but rather, that you need to do your own research on the actual property and whether the numbers given to you are realistic.

I believe this is something I can realistically do and I want to learn how to do it.

Is it realistic to think that I could use all my cash and sell my 4 plex to get a larger complex and pay a rental property company to manage it and live off the cash flow for the rest of my life?

I think it will come down to how realistic they are about the property's condition and value.  

If you are handling things like the management of the properties, you will still want to include this in your calculation because it will make your numbers more realistic if you ever go to sell and are trying to market to a buyer/investor.  

Honest and Realistic, I think. 

Most networking events with the big players happen in the daytime here and doing something as simple as delivering materials can offset a day or 2 of contractor work because I'm at the office#3 I love my tech job, but I'm not used to being comfortable for so long, its unnerving#4 I could try to change jobs to something that is more interesting, and could improve my negotiation/facilitation skills, but it would likely still not be my passion as much as real estate and training others...Plus it has more overtime potential (moving from programmer to business systems analyst would be my next career thought)#5 Realistically, I could only probably start out with 2 small deals with these funds and still have breathing room, and it would obviously be a gamble.

To be realistic in estimating long term expenses on a SFH you should be using the  50% rule as a bench mark prior to due diligence..