I would see if that seller, your PM, is willing to consider picking up a part of the replacement expense, since you received a credit for less than half the replacement cost, but two years is far less than half the life expectancy of a roof.

I just wanted to introduce myself and pick some brains here as I make my foray into real estate investment. 

I recently picked up a short sale for 6k and another for 10k.

It sounds like you're in the perfect position to pick up a multi-family property as owner-occupied. 

Just picked up my third house in an all-cash deal, and I still have my personal loan LoC to use for something else.As long as the borrower has the requisite willpower, I think it's a good route to finance your REI dreams.Congratulations, Tony. 

To lump them together in comparison is laughable...it's like saying, "A pound of gold is no different than a pound of salt-- they're both a pound of natural mineral!"

I recommend picking an area you're familiar and comfortable with to get started.

By networking with local investors you will be able to possibly pick up a mentor and possibly others to invest.  

The advanced guide to real estate investingThe ABCs of Real estate investingThe ABC;s of Property ManagementThey are general in nature but give a good overall overview in multi-unit investing.

Any judicial process will take longer than a non-judicial process simply by the nature of having to go to court.