The seller avoids foreclosure and walks away with his credit more or less intact, his mortgage paid off, and $15k in his pocket to start a new life.3.

Credit them the few days back off of rent.Sorry you are facing this and wish you well either way!

Our financial associate is prepared to hire for this BOP immediately. 

Generally speaking, you will not have access to the interior to determine its condition prior to the application, nor at anytime during the process.These are not programs for the faint at heart, and none of them will permit wholesaling or assignments of contract, so if you pursue any of these, be prepared to put the money in once it's yours.

I will have multiple tenants and running my home as a legal business, but especially because of the higher turnover, I want to be prepared by creating an LLC to protect my business, and to employ some part-time help with the management of the property on-site.  

Look at cash advancing against any lines of credit or credit cards3.

What actions should be taken in the interim to best prepare myself to make my first deal?

So here is the question: if you were looking to build a portfolio of 50-100 SFR, you have 2 great W2 incomes, perfect credit, and $50k to start it with, where do you begin?

Prepare a metes and bounds description with survey of the two separate tracts.

(I plan to do some remodel work in February, so would be looking for new leases to begin in March).2) The current owners are collecting September rent, which will be credited back to me at escrow, along the the 5 security deposits.