If you want to stick to wholesellers / MLS while concentrating on flipping, you should aim to try to find something with maybe $10k more spread than this which will be very difficult but not impossible.  

Concentrate on paying off all bad debt first before saving to invest.

I want to concentrate on working with investors.  

I'm concentrating on learning the wholesale business and I'm hoping to learn a lot from this group.  

I suggest you focus and concentrate on identifying what went wrong with this particular tenant selection, and determine what practices you should change or adopt in order to avoid future similar outcomes. 

So I am thinking about saving up more money to concentrate on buying a property closer to downtown.I am currently working with investors and they are also particular about the properties they want and for the price that they want.Do first time investors have the luxury of being as particular about their first investments?

My opinion...concentrate on getting your deals.

The internet is full of junk and new gurus seem to pop up daily, then there is always a wave of newbies that aren't willing to learn the realities of the business and concentrate on fantasies.

We were at CSU's undergradd business school together concentrating on accounting.

For now I am concentrating on wholesaling.