Ryan - I too had great success at the recent OK tax sales and knowing what little I do know from other Tax Deed purchases across the US, I would not attempt to quiet the title myself.

It costs more money than you think (even wholesaling) and you fail 99% of the time so you need extra cash in case your first few attempts fail.

I'm attempting to update my profile and can't seem to find the right icon to click on to accomplish this.

If renter fails to make the interest payment the lean holder could exercise their right to the property and take the title back.I'm sure there are other benefits or possibly disadvantages to attempting to do this.

Should I attempt to begin my investing career while in school or just continue reading and learning and wait till after school when I have more time available?

I will also attempt to find out who the loan servicer is.

This is the Village's way of encouraging owner occupied properties, but misses the mark (as do many of their attempts at reform). 

If you are going to pursue a judgment, you may be able to find a local lawyer that will attempt to collect on a contingency basis. 

I doubt you have but if you have I would be a huge mistake to attempt to cancel the lease because he told you about the bankruptcy.If you attempt to cancel the lease without a lawyer I would expect his lawyer to add you to the bankruptcy case and then notify the judge of what you did. 

I think you can document you did everything within reason - i.e. you had it professionally treated prior to move in, you had it professionally treated again when they complained of a problem, and you attempted to follow up professional treatment but tenant would not cooperate.