Since you are new to REI, the obvious start is with education but I would suggest making some 5 year, 1 year, 6/3/1 month goals with the end in mind (retirement and lifestyle).

I understand I may be SOL, but it seems logical that water damage should have been reported by the seller and their realtor during the period of the property being under contract.

Realistically, I suggest seeing all available, (New, Resales, Foreclosures, etc.) then you have a logical basis for making an educated decision of which home best suits your needs and lifestyle. 5.

Is there a waiting period, do we need to move all properties at the same time, are there other things I need to be aware of?

I am happy to help educate you about the Greenville market.

If you get three fines in a 2 year period, they confiscate your VHR permit.Here's the good news:  http://www.cityofslt.us/index.aspx?

Our focus is strictly on multifamily and the presentations are informative and educational in a relaxed setting that lends itself well for networking.Here is the link to our next event.https://www.biggerpockets.com/forums/521/topics/60...Thanks and hope to see you there.

Don’t be afraid to fail and if you do treat it as an education! 

You may also want to factor in the education from investing versus not.Thoughts @Michael Lee @Andrew R.

Although it is nice getting a vacant property back periodically where you can flip for a big payday.