One option I have is to demo and rebuild the house using insurance money but it will take about a year and lot of involvement.

Damien,Build-to-Rent (BTR) is a great long-term wealth-building strategy, especially if you have a stable W2 and want to take a more methodical approach to investing.

These things should NEVER be considered in an educational program much less a program that has self serving owners with over-hyped experience and credentials.Students have been squeezed out of deals that their coaches are involved with.

When you have about 10 doors, get the CPA involved.

I have some of the required funds in a HYSA, but will most likely need to draw from another account and I'm curious which method is the most efficient in terms of taxes/capital gains, penalties, loan repayments, etc.Based on my previous transactions in the market, I estimate ~$45k cash to close: $20k for the down payment, $15k for closing costs and prepaids, and $10k of starting reserves.

Should I go through with taking ownership of the property and try to salvage it for profit or do I refrain from even involving myself in the situation as it may cost more than it's worth to save it?

Offer to intern, find a way to get involved.3rd - If you find a deal, you can then find financing! 

Worked out nicely for all involved. 

You might also look into learning about BRRRR (Buy, Rehab, Rent, Refinance, Repeat), a popular method for scaling a portfolio.Network Locally: Engaging with local investors and attending meetups in markets like Dallas or Fort Worth can provide insights and connections that are invaluable.You'll find that momentum grows quickly.

Local Investment StrategiesHouse Hacking: Given the affordable entry prices, Albuquerque can be a great place to start house hacking, especially near the university areas.BRRRR: For those familiar with the Buy, Rehab, Rent, Refinance, Repeat method, there are opportunities in Albuquerque to purchase under-valued properties, especially in areas undergoing gentrification.Airbnb/Short Term Rentals: As previously mentioned, the city's rich cultural appeal can make certain properties lucrative for short-term rentals.