There are always people entering the market and leaving the market all the while the many investors that do this for a living will stay and grab deals.

My question is can I purchase this property, renovate the top two units and just leave the basement as is?

You may come across pushback with having co-gendered units so as you grow I would suggest leaving room to have unit(s) that are male and female only for those who are more comfortable with living with others from the same gender. 

If you dont sort out your global cashflow, this may only prolong the inevitable at the expense of your equity.Option 2 would be leave CA and shrink your balance sheet by selling the properties and paying off the CC debt.

I want simple - quick picture as soon as I leave the store, so I don't have to track expenses.  

Being cheap about repairs leaves you with unhappy tenants who will not take good care of the property because you don't.Send a licensed plumber ASAP.

I understand not buying more up there, but your initial investment there will turn out well.You can check out the BiggerPockets video podcast and leave a comment if you have questions. 

Key: cleanliness, keeping food contained and not leaving pet food out, exclusion (blocking holes where rodents can enter), keeping vegetation away from the building.If it becomes a serious problem or infestation, then call in the pros.

Getting someone to leave the house in Florida while in foreclosure is difficult. 

Then you need to leave 40%-50% of your money in the deal to get it refinanced which then makes it difficult to scale.