And to use all of the proceeds from the sale in your purchase (again 50% of the total proceeds from the sale).The contract price minus closing costs = your net sales price (reinvestment targetThe net sales price minus mortgage pay off = the proceeds you need to spend.Since the debt is paid off as part of the closing neither one of you will have enough in proceeds to simply buy your replacement with the cash proceeds. 

I'm seriously considering a career change to become a Mortgage Loan Officer first before or alongside investing in real estate.  

Typically real estate-focused firms have investors in most if not all of the major US markets and are familiar with it.

You see a MF property, you want to buy it and have the other tenant pay the majority of your mortgage.

Typically you pursue one track or the other.

One of the two has minimal debt but the other has a mortgage on a rental property that her family manages.

Actual real estate or hard mo ey loans involve a Promissory Note and a Mortgage/trust deed document securing the  loan with a lien on the house....not done “investor agreement”.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

That's typically the best place to find resources in any given market. 

I have transferred properties into an LLC while I still have the mortgage.