I have been sticking to looking at strictly SFH REOs because that is what I feel most comfortable with (aka have done the most research for), however I continue to get tempted into a possible townhome deal, or at least look closer into them.Is the major disadvantage dealing with association regulations?

I think as you become more confident in your roll as Landlord, you will become more comfortable enforcing the rules and won't feel like you need a pm ....

I am not sure if this possible, but I really don't feel comfortable going into business with her.  

Get the best dustmask you can find, a comfortable one, because you are going to be wearing it for a long time.

By doing that I have lost some deals because the seller or agent did not feel comfortable with "And/or Assigns" after my name.

If your going to net after ALL cost something you are comfortable with offer as much as your willing to pay.

I don't feel comfortable doing my first sub2 on a house 7 hours away from me and wasn't sure if there was enough meat on the bone to wholesale it to a more experienced and local investor.

You would need to be comfortable with your co-lenders and perhaps sign a Participation Agreement with them. 

As you grow and become comfortable with a type of marketing, master a new one.

While the margins are not what they were a couple years ago people are still making very comfortable livings making hundreds of thousands a year flipping here.