@Joe VilleneuveI think CA has a bad rap, but if people give it a try, and put in some actual time, they may realize it's not as bad as they think.

Yes, I realize I should have not it get like this in the 1st place and if this effort doesn't pan out, then they are gone. 

Cash flow is necessary to make the financing work, but the more meaningful realization events occur when the properties appreciate or value is created through development. 

As I dug into the project, I realized that I was both well suited for flipping (or keeping), but also that I was genuinely enjoying the process.   

Biggest aha moment:  realization that selling a partial is a way to recapitalize.  

Realize a REIT also will cost a lot more for tax returns and potential reporting. 

Then you have the choice of paying on the previous owners behalf (which will delay foreclosure until they realize there's been a title transfer).

Since you are just graduating college you may already realize that it's not what you know, but who you know (as a personal note, I had college friends that were barely passing their classes however they ended up with really good paying jobs due to "who they knew").

I even had some wholesalers trying to contract it prior to me fixing it, but I realized that they were not real buyers so I did not agreed to their contract.

I realized that I was pursuing other markets because a home for $50,000 was appealing but not because it was a better market.