In the majority of fraud or Ponzi Scheme cases the common theme seems to be that the money is mostly gone, and whatever is left runs out before a large portion of the victims are made whole.Sounds like the majority are first position mortgage holders.. this is super simple find an attorney that specializes in mortgage foreclosures and file. there is a federal law that went in post GFC that requires lenders to give a 90 day notice before they can file and I think it pertains to any loans on any 1 to 4 unit properties  the assets that Dodd Frank was designed to regulate. once the 90 days is up you file your foreclosure  in OHIO its a mortgage state so it cost more  money than a Deed Of Trust with power of sale state.  

I am just stuck on what the best route to take out of college to put me in the best position to do this.

This is to protect sellers but also to encourage buyers and agents to have necessary conversations about how everything works, before jumping straight to house hunting.At the end of the day, I believe the industry will adapt quickly, and these changes can be a positive thing for all sides. 

I guess the word has a positive connotation that could be misconstrued as being a good quality lender.

The answer to your question, in my personal opinion, is to do exactly what you're looking to do in the future, right now...invest in small multi-family (up to 4 units) that you can purchase below market value in developing areas in order to capitalize on the appreciating value...but to do it with properties that also have lower entry costs, strong rental demand, positive cash flow, and with lower property taxes.

I am finding fairly positive economic data but have not run across many on these forums who invest there.

We can talk about this at the meetup on WED, but you are positioned well with what you have so don't rush it.

There is a lot to know about who is foreclosing, what lien position they are in, and just general risk of what you are actually buying.  

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.

I know investors who closed on a HML and then found a PML to take a 2nd position after the fact.