With no debt, wife, and kids, it sounds like you are able to build yourself a very comfortable cushion before you dive into the business.

not sure that's wise.. although there are many super discount brokers in CA OR and WA were it only cost you maybe MLS dues and board dues per year.. so if your buying and selling one home in CA a year it will probably save you pretty decent chunk of change. 

There is a duplex less then a mile from my home (HORRIBLE SHAPE) its boarded up of course no tenants.

I would prioritize finding an accountant who specializes in real estate taxation over one that is local.There are 20+ accountants on this message board who specialize in real estate taxation.

This would be my first property and i have 3 kids to make sure i can feed.

Having a team together allows you to have a sound board and bounce ideas off one another.

In a boom market, investors seem to be able to make money by throwing darts at a board, but how does one do well in a down market.

I have just learned that they have 3 kids with 3 different last names.

Now, when I have a more narrow question, I go to the boards like on here.See, the thing is, you need to catch someone at the right moment that they're willing to write a book in a post. 

Even with that a lot of it depends on current board members.