However, independent of the painful schooling I've had being a long distance landlord (I refuse to hand it over to a prop man co), I've managed to turn the property around, literally doubled the rent from when i bought it, significantly improved the tenant base and have updated, renovated, and flushed out most of the poor workmanship the property has suffered over the years.

All very simple.

We are looking for a personal loan for 50k to use as downpayment or any other advice as to how to get our hands on this duplex for less than 25% down payment. 

One day when my portfolio is big enough I will hand all the properties off.

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bpThe second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

The newspaper does also let us put a free announcement about our meetings..Simple as that.

I don't have the cash on hand to purchase, and I don't have financing lined up.  

Wouldn't the prior leases no longer be valid once the property has changed hands, regardless of how long until their former renewal date or the stated duration of the old lease? 

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bpThe second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

A couple of "simple" ways to help mitigate this problem is to make sure that you 1) find and buy a deal well below actual market value and 2) have ample cash reserves.