I have a background in commercial real estate, so the number crunching aspect of investments appeals to me. 

@Dan Heuschele An infinite return via getting all your money out constantly is completely different from a TRUE 250%-400% Tax free return as I have created with this method after my 2500+ hours of studying and being mentored by the biggest most reputable faces in real estate, i.e the equivalent to what would take someone that's as motivated as possible 5-15 years to learn if they had a full time job (I spent 18-19 over a year of 8 hours a day 7 days a week on learning how to truly be a millionaire and successful in all aspects).Thanks for the tips but you did not answer my question, and I know all of the things you said obviously and I will adjust to the best possible thing available in my situation after deliberate knowledge on each individual matter and having a physical mentor,community and tons of other sources of wisdom and knowledge going into all of this before I start. 

He lives across the country, and wouldn't be participating other than the money aspect.

Another question I wanted to ask is about real estate attorneys and how you go about finding attorneys that can do these types of deals efficiently and help you create a contract that will cover all aspects of this type of deal so that you and the seller are covered.

You also have the aspect of if the buyer defaults, then the seller gets the house back, gets to keep the buyer's deposit, and then gets to put the house back on the market, netting another deposit when a new buyer enters into contract.Another pro: the seller can sell the house "as is," and the seller does not take on the responsibility of the landlord.

Hard to know what your kid will or will not learn about the RE aspect but I can assume she will remember how you and the wife work out your different opinions on the matter .

I'm proud of that aspect 

I always recommend hiring a good agent who will take the time to analyze every aspect of the deal and remember they can always use their broker for help if needed.

I can help will as aspects.

Unless certain aspects of the property won’t pass inspection I don’t see why the loan wouldn’t be approved due to unclean tenants.