The people that reached out to me that did sign up weren't very positive about it. 

A law degree does not mean you know anything re wraps.If worse comes to worse, you can stop the foreclosure with legal action - it costs some but you will not lose your equity.I would not throw the baby out with the bath water re doing wraps and I do hope all works out for you.Reach out if you need a referral to a good AZ attorney to helpBe careful out there guysAlan Not to be too blunt, but you are handing bullets to a six year old with a gun.

The positive is you can get them out with 60 day notice so 60 day escrow would allow the unit to be delivered vacant (assuming zero issues terminating the rental)good luck 

The loan shows it is SUPPOSED to be issued only if its in 1st lien position, but if a mistake was made in 2005 it would not be in 1st lien position.

For example, you can buy properties in the low $100k range that are already cash-flow positive or close to break-even with good tenants in place.

My questions are what books or other resources would you recommend to someone just getting started and also what is the best path to get started on in real estate for someone in my position?

If you rented this home and it was putting $3K positive cashflow yearly in your pocket, the returns would be 3/4=7%.  

That could involve mediation or court, OR possibly if nobody takes an action you may simply be awarded the EMD back after a certain time period.

On the positive side, it seems like you have a good potential BRRRR that you can use to purchase additional properties.

Emphasize how this arrangement could work to their benefit, offering steady income, avoiding a traditional sale process, and giving them the freedom to move forward with their plans such as buying that sailboat and sailing around the world.If they ultimately decide they’re not interested in selling, you’re still in a great position to continue your search and buy your own property in the near future.