I became extremely interested in property investing, specifically rental properties, because of my Property Law professor.

1979 NACU 2bd mobile home.I basically have one concern ~ there is a open pipe on the roof, perhaps once used as plumbing vent (we are unsure where they've been rerouted).There was a nest inside, I poked and prodded, no softness, no mold or mildew within field of view.I'm just somewhat worried, it seems this pipe has been this way for a very long time, it crumbles to the touch.

Not all of us are bad but like every profession, there are those who fail due to lack of knowledge, lack of concern for the client, etc. 

You might get lucky and find the one that will let you wholesale their REO but there's an extremely slim chance of that happening.

This woman and her husband are extremely nice people and apparently have a had a pretty tough past.

If you get locked in under the market rents it will not only create a legacy of low returns for you, but it will also be an issue for future buyers.  100% you will not be able to do step type of rent increase to market, RAP just won't allow it.I understand your concerns about your tenant and that is something that you have to personally consider. 

I just want to learn what I can and apply what I learn (hopefully sooner rather than later).Any tips, criticism, etc. is extremely anticipated and appreciated.Thanks!

If crime is your concern, find a neighborhood that is less dangerous and/or up-and-coming.

And most are extremely run down, which is why you can get them cheap enough to resell them to a rehabber.And rural areas work for wholeselling.

I am mostly concerned with getting property's tax situation, as well as any liens on the property.