I'd be interested to know what your take on the market is right now and what your ideas are for achieving the exiting goals you mentioned on your profile. 

Hi Shannon, He was living with his father who is elderly but his name was not on any of the transaction or escrow paper work.Also I spoke with another real estate attorney he mentioned, since this sale was a done by one agent (I had to use the sellers agent ) The realtor has failed to do her Fiduciary Duty in protecting the rights of the sellers' which in this case my wife and I.

OH - I forgot to mention!

Yes, I started working at a young age.

Not to mention, you would be able to list your own property without shelling out commissions for both listing and buying agents.

My escrow officer mentioned the following : "I’m wondering if having an option with the seller would be do-able….

I did mention in some cases (from what I've been told), that the bank will give relocation money, but I did not make any promises.

You are starting this at a good age to live out your dreams.I am 60 years old and I live in Dallas County Texas and I have not traveled much out of this state.  

I personally dont like YL for the reasons you mentioned, but pretty much all marketing methods work with enough volume (postcards, YL, flares, smoke signals, etc).It DOES attract sellers, since I know some great investors who ONLY use yellow letters.  

If you rebuilt for 80k for even numbers, it would take you 11 years at $600/mo in rent to recoup the 80k not to mention other expenses.