@Daniel Carrillo if you have not connected with @Jackson Harris already, I would definitely recommend connecting with him and his partner @Jeremy Holden.

Any recommendations on Houston REI groups that meet in person or virtually?

BP is full of great content, so I strongly recommend you to have a look at the following resources: 1.

@Melissa Odom I recommend connecting with a commercial real estate broker to get a broker price opinion on your current value and after-construction value.

They also handle legal matters, like making sure the property follows the rules or dealing with evictions if necessary.For finding deals, I recommend starting by connecting with investor-friendly agents in your target market.

In the meantime I would love to have some helpful information or ideas to share with the buyers when we meet and ideally an agreement/contract we could fill out together once new terms are agreed to and then share that with the attorney so he could draft up the formal instrument for recording.If you have experience with this type of scenario, I’d love to hear any recommendations you have or any helpful resources you could point me to for the appropriate paperwork.Under foreclosure laws, you have to send appropriate notices and try to work with the borrower and offer a loan mod before foreclosure anyway. 

The property is located near two colleges, so I’m focusing on student tenants and planning for 12-month lease terms.Do you have any tips or advice for renting by the room?

I told her this simple fact and stated, "unfortunately I would recommend calling a locksmith." 

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

I recommend checking the areas near University Circle for that reason, but there are some spots not far from there that can be rough, so do your due diligence.