This will clarify and reinforce what you are reading.

There are a lot of websites that offer the course online, or if you have a college near you, they also typically offer a class that satisfies the pre-licensing requirement.

Beyond trying to connect on this forum would recommend look in the BP Meet up section and checking out local DFW FB RE investor Facebook groups as well as Meetup.com and Eventbrite for local events. 

Who are you trying to attract?

Most likely trying to find a sucker to buy this and take over the costly legal battle they are entailed in.So next time someone is like "yeah just get a deed in lieu at closing", think twice about that.Actually, I use the deed in lieu.  

The BRRRR method (Buy, Rehab, Rent, Refinance, Repeat) could also be a great strategy to recycle your capital.To find deals, try direct mail campaigns targeting absentee owners or distressed properties, or go driving for dollars in neighborhoods with strong rental potential.

Even if the rental has a decent cash flow with additional flood insurance, we're still not sure we want to take on that risk as we are out-of-state investors (planning to move back to KY in the future, but not now) and we don't like that it will potentially bring down the perceived value when we try to sell it in the future.The seller has never lived there and has not provided any information on if it has flooded before or not. 

Any suggestions for this? 

This allows the Board to spend the funds on anything, and if they do, the owners would need to restock the reserves!

Welcome, take a look around, and don't be shy -- we try not to bite TOO hard!