@Andy Milby If you are at all concerned the seller may have another offer or try to sell to someone else, you have the right to record your contract on the property.

Meeting someone face to face, seeing the market, touring some props, and getting a first-hand idea of the operation is extremely helpful.

My major concern is the landfill. 

I don't completely write off any asset type particularly, I just know they come with pros and cons and if my DD satisfies those concerns, then I'll go for it. 

Is this a one time venture or does this partner have extremely deep pockets to keep funding your deals?

I’d definitely recommend employing a value add strategy regardless of which path you take.I’m house hacking a 4plex in an A+ city in the East Bay, but those types deals are extremely rare and you have to be well connected to the brokerage community to have any shot at getting them.

They have told us that they do not want to leave and I'm concerned that they will holdover. 

For the sake of your future CPA, do not wait until tax season ;)At that point, we're extremely busy and the timing may actually prohibit us from taking on new clients.

You can do direct mail to owners of MFH over 10+ years to find a tired landlord that would be willing to sell - but MFH in general are hard to find at extremely discounted rates enough to use the BRRR strategy especially in Dallas. 

I'd be more concerned she is on the other side of the door and is armed.