I think one of the biggest mistakes investors can make is not matching the duration of their investments with the duration of their financing.

Then figure out which areas you want and decide if MD, VA or both are worth getting to match your goals.In DC you have to take the class in person so I believe you get more out of the course. 

We're really interested in creating financial freedom for our family (we have a son) and we feel like real estate is a perfect fit.

I am sure he has his faults, after all he left New Zealand to live in America so he sure ain't perfect :-)

If they own the house outright and have paid off the house and just want to sell the house this would be a perfect owner finance.  

Quiet title action is a court proceeding to clear title and perfect an ownership interest. 

If you can find matching tile, I would go with option 1 (tear out bullnose and keep tiling).

I am probably going to go in with a partner (who will match my initial investment to make our pool of cash essential double).

Perfect, count me in.I'll try to get 2 - 3 more people with me too. 

I just put 5000 to be conservative but owner states he just put in new hot water heaters, roof is in good condition, the pics of the yard look like it is really well maintained, etc  The detached garage looks old but has a brand new roof on it and has been painted to match the apartment building.