Also, one of the tenants is the one that notified me of the chimney leak into the stairwell, so letting them know we took action right away helps build the relationship with them so they know we care about the property. 

Just getting into the cash flow/financially independent life idea myself.

I found out, educated the seller, and the deal went south along with legal actions from both sides:)

The one you are referring to appears to be, and if so, congrats on taking action!

Happy that you are taking the steps and jumping into action.

Things are signed and put in writing *before* the actionable event happens.I highly recommend you research here on BP's forums and podcasts about how to find quality tenants.

There are a lot of costs that go along with owning a house, and if you forget to take something into consideration when running the numbers you can be in financial trouble quick. 

This is "possible", but generally not financially beneficial.At the time of distribution, the property will need to be appraised. 

But, I need some coaching as far as financial strategy.I have an 800 credit score and no income (new RE agent) and my husband has a great W2 job but really poor credit due to some major credit card debt (long story).

You focus on what is the maximum you can spend to make money...and don't negotiate (rationalize) against yourself after you found that number.Second, whether you are the buyer or the seller, you focus on what you need financially first.