My question is that due to numerous unfortunate circumstances, two properties that my partner and I purchased (through a program) were underscoped, and we cannot move forward financially.

It’s a great way to start building equity while offsetting living costs, and programs like FHA loans can make it easier to get in with a lower down payment.Since your parents are open to diversifying into real estate, that could be a big advantage, especially with the equity they have tied up in their property.

I am not a member in any "gurus" programs nor am I foolish enough to believe that the whole picture is provided by these gurus.

Randi, the program is definitely worth the time, effort and money spent.

I am not affiliate with these programs.

There are many who preach this program but the reality is if you run the actual numbers I would argue that is NOT the case.

In 1.5 years, I will be moving to a large university town to start a dental residency program, and I am viewing this as an opportunity to invest in my first property.

Either would be a great option; I'd probably choose Roseville because it's more established, but the City of Elk Grove deserves a lot of credit for its impactful growth programs, so it wouldn't be a bad option. 

There is more housing programs than can count. 

A lot of universities have students that need mid term housing due to graduation dates, mini semester programs, etc. and I've found if you approach them and offer them a solution to this problem, they are willing to work with you and help send business your way.