My first home was bought with an FHA mortgage with a low down payment, with the assistance of the CityLift program, which gave me down payment assistance.  

Hello Nurum,If you sell the note you will take a pretty good hit and a note buyer isn't going to be overly anxious to buy a Contract for Deed with the low credit score. 

John Howdyshell your profile says you are looking for a private lender for a low interest long term loan.

Because they have dozens of educational classes every week and the monthly fees are low.

I was uncomfortable but I thought that maybe this was the way commercial deals worked.The GP predicted selling the property for $3.1 and then signed a deal in January for 2.78, which seemed low given the hot nature of the market and the improvements done to the property but I didn't really have any recourse.

Your rehab is 14k for all of that stuff - sounds a bit low.  

Some of the best contractors I've found have been at Home Depot and Lowes.

Hi I am new to the real estate market, I want to gain knowledge on many aspects of real estate investing such as flipping and low or no money real estate investing. 

Add a few amenities (heat, lights, insulation) and it will cost another $1000.  

I agree that vacancy may be low given it's a student rental (assuming there is strong demand in the area) but there will always be some vacancy.What updates have been done to the property?