If you engage in an active business such as flipping - UBIT may apply, be sure to speak with knowledgeable CPA to understand the tax liability. 

Sounds like you are an experienced newbie.

It sounds like you are on the right track!

That could be a great way to find and stay engaged with local investors, realtors and opportunities. http://www.biggerpockets.com/alertsYou can also search for other investors or brokers in those target markets and follow their journey on Bigger Pockets here: https://www.biggerpockets.com/search/usersAnything you can do to build your network in the region will help you find the realtor, and eventually the property, that suits your needs.

It sounds like the tenant asked you first if they could get out of the lease?

Sounds like you are getting cash flow and appreciation right now, which, in my mind, is exactly what investors should strive for. 

That could be a great way to find and stay engaged with local investors, realtors and opportunities. http://www.biggerpockets.com/alertsYou can also search for other investors or brokers in your target markets and follow their journey on Bigger Pockets here: https://www.biggerpockets.com/search/usersBest of luck to you and look forward to following your journey!

Ehhhh that sounds sketchy to me.

@Gabe Amedee  Sounds great!

Hard part here is it doesn't sound like she's motivated to sell.