They then informed me that I could either move forward with the management services, with a nominal discount of $110 for the error, or revert to the Lease Only Option and have the lease transferred to me without any security deposit, as none was collected by the property manager.This mistake has left me in a difficult position.

My friend, every setback serves as a springboard for success.To put it briefly, learn what you can, develop a strong network, start small, secure funding, choose the ideal location, and roll with the punches.

He networked with investors and offered to pick up and deliver materials, then he cleaned and secured the worksites every night.

The courses / mentors rely on the success of a small percentage to show their programs work but you have to ask would they have been able to do it on their own for a fraction of what the program cost.I did not see a cost associated with the Flipstress program after doing a Google search - 95% of what came up was from the Flipstress program itself which would have me question how big it is and effective the program is on a wide scale.Before sending any money I would see if you can find anyone that has used the program and find out what it did for them. 

A very personal question so no need to answer this but is this something you can financially take on on your own or be able to secure bank financing for?

If you have a license you must have a trust account for your tenant's security deposit.

I will tell you that many people who invested in Class B or C apartments during that time got a variable rate loans which was based on SOFR ( secured overnight financing rate) + set number.  

While we have not yet secured our first property, we have spent the last year+ educating ourselves, networking, driving for dollars, and substantially reducing our debt load.  

Typically, they can give you the lowest rates However, another option that may be more beneficial is getting a LOC (line of credit) secured by the paid-off house.

For new investors, you can secure up to 90% of the ARV, and for seasoned investors, there are even opportunities for up to 100% financing, depending on the lender and the specifics of the deal.If you need any assistance or have more questions, I'm here to help.