The key factor is this guy wanted a fixer upper and committed to doing some rehab himself, is qualified to do so, perhaps an unusual combination of circumstances?

An important factor I haven't seen mentioned yet is a thorough understanding of tenant rights and what, if any, backlog the county has on evictions if they have to perform them.

The system is manufactured off site at the factory, eliminating 90% of field seams2.

If it were me (in your shoes) I would probably buy a nice fully finished basement home (you coould afford without any help from tenants) close to hospitals, factories, etc (separate the two) and live in one half and rent out the other half to medical professionals, manufacturing coordinators, and other professionals who may need a year or so lease that will pay well.

These can be reached by becoming successful in a profession and capture the income that can place my family and myself in these areas.The last motivational factor is my passion for real estate.

Manufactured; built in a factory and shipped to the site.2.

The only factor is the time involved.

Your deciding factor is how many simultaneous users do you have for QuickBooks? 

Here you may see a lot of folks in the daytime in one area who are deadbeats but in another area they may be employed and work second or third shift and if its summer some factory's work weird hours when it's real hot.

That may be a better solution than taking it to foreclosure, in this case I don't see GMAC eating 45K exceeding such alternatives and perhaps having some things done, protecting the collateral, and holding it for sale.The other factor is the borrower information, likelihood of obtaining a deficiency judgment or will they be headed to bankruptcy?