A Realtor explained to me that it was illegal, and I accepted his advice at that time.But, I'm not sure I understand the logic. 

You need to understand what you can claim while it is uninhabitable and how the insurance money is handled versus rehab expenses. 

I see the value of the homes you posted here are very modest  (esp compared to Charles Village) and I'd be interested in understanding what other strong rental areas exist outside the well known neighborhoods in the City.

I understand there are many ways to structure one but seeing one done from start to finish would be great....just my thought

I understand that I will need to have a network of real estate agents, real estate attorneys, investors, and contractors.

The agreement is that the tenant would sign a lease I provide with the current owner, to be transferred to me at closing.Okay I understand .

If you use a "captive agent" or one who only sells for one company, the advantage that I can think of, is that that they may REALLY understand the offerings for that one company. 

My understanding is that if you use all the proceeds from the sale for the new property (purchase price plus purchasing expenses), it is tax deferred. 

Can someone point me to an attorney to help me understand my rights? 

I've summarized my understanding of their offering below.