The real reason I want to buy there is I'll get basically free management from my folks and I've been having a heck of a time finding a profitable rental here in Spokane, WA. 

With some basic understanding of investment principles you should be able to discern over the course of a cup of coffee or a beer whether an agent is on the same page as you and has helpful information to share.

The home is basically a shell with outer wall damage.

I am looking for a basic private lender agreement. 

I found a reference on here that said these were a good source for finding your basic prices/sqft.

It is currently rented at $875/month which basically is a break even point.

I was basically able to just tell them everything I wanted and it seemed to go pretty smoothly.

can anyone recommend a good real estate attorney to Handel a closing and basic landlord/Tennant law advice in or near  Statesville NC?

Basically, your PITI should be no more than 36-45% of your gross monthly income (not the income from one of these units).  

My parents were basically the kings of doing this while I was growing up; they would move every 3 years to take advantage.I like the idea of only holding for 2-3 years and then being able to sell tax free.