First, it is my desire to give back to new investors as I can based on my experiences, both positive and not-so-positive. 

I've also made a commitment to myself to come out of my shell and shed my introverted skin, so I'll be attending my first real estate investment group meeting on Wednesday.I'm nervous, but my desire to create a passive income stream so that I can quit my job burns stronger than my fear.

If you just want to invest in real estate, you don't need to get a license.If you are interested in working in real estate and desire to get a license, you will want to do some studying on the Oklahoma Real Estate Commission's website to learn the process for obtaining a license.

My 14 year old is the one who has the most desire to do this thing and is also a little reserved, so your advice would be especially vital for him.

Other tenants can reduce the desirability of a duplex.  

Have had a strong desire to invest for many years and looking to network with like minded people. 

@Derek DaunHey Derek, no one can give you an exact answer, because the answer would require knowing what company and what hard money lender you are considering.Companies in the business of lending or individuals in the business of lending will create an offering package that can be desirable in one regard, while being less than desirable in other regards.

In all honesty, their well does not bother me; however, someday, when I get a property I desire more, I intend to sell these lots on contracts and want the option to make sure this well doesn't become an issue.Long story short: I am looking for an example of a simple license agreement I might implement with my new neighbors for them to keep their well on my property.Thank You!

I understand that is a less desirable part. 

However, I would be very cautious when trying to invest out of state for cash flow--particularly in less than desirable neighborhoods.