can keep them engaged.

I've worked multiple internship jobs over my college career and feel very confident I could land well paying 9-5 as soon as I graduate. 

The seller data is useful but it must be evaluated within the context of your own investing knowledge and experience.A local property manager who manages similar assets can also provide useful data.Use your local market knowledge and experience to develop a proforma you feel confident in and proceed from there.Arn

Let’s say that the pref is due in three years—you have to be confident that you can sell or refinance (for an amount of the acquisition loan plus the pref equity) in three years or less.  

I'd love to do it scared and take a risk with a small property to get my feet wet and build my confidence.

I strongly suggest engaging the services of a consultant or advisor to assist you with this matter.

He engaged in about 70 land development and business partnerships in which he was the operating partner.  

Ask for documentation that justifies these alterations.It's essential to feel confident and informed throughout the lending process, so don't hesitate to advocate for yourself and seek out advice or alternative options.

I’ve lost confidence in knowing that my affairs have not been handled properly and have yet to sign a new contract.

If by real estate business you’re implying you have little or no money to invest but are contemplating using one of the guru inspired methods (subject to, “wholesaling” , fix n flip) to create cash flow, I’d encourage you to do research on the true success/failure rate of people who engage in these endeavors, the amount of money the successful operators spend monthly on marketing, and the real time commitment and knowledge and experience necessary for success.