It's in a highly sought-after neighborhood with a great school district.

The properties themselves are producing nothing it is your equity that is buying the income at a very high cost.None of your properties appear to be cash flow positive (based on the value of your equity) so I would sell them all and reinvest in better properties or put the money into a income fund.

Called it exactly right - if you move forward with closing, do a hold-back of the amount of funds required for evictions. 

Most cities have a remediation program that offers assistance/funding.

Know what is for sale, what has sold, where the schools are, what jobs are in the area, what the rents are, etc, etc.

Yes, you have to work around tenants need, and I understand them wanting a legit offer with proof of funds before disrupting tenants, but make sure you have a cancel fee in your offer, and refuse to go through if you can’t see it. 

Read a book on how to find and fund deals3.

It's their responsibility to pay or they can find somewhere else to live...dropping funds at my bank is not that complicated.Definitely get a lease in place...maybe month-to-month until you learn they are stellar tenants. 

They both share the same schools, you aren't sure at times if you're in Alton or Godfrey.

Me and my brothers agreed that if we split up and she kept the house we would manage it for her (make a Little money) but also I would fund the next 3 family on my own and they would be partners.