This is the second time I've gotten to the offer stage on a fix and flip property.

If it sounds too good to be true, it usually is!

Look at ways to reduce your living expenses... doesn't sound cool as investing but you're investing in yourself with college.

My question is how necessary is it to get my Real Estate License during the beginning stages of my investment career?

My wife and I just purchased our first duplex we are house hacking and in the re-model planning stage for the kitchen.

The timeframe wasn't mentioned but assuming it was after that initial 7-10 days option  the rest sounds just like what I'm used to in the selling process.

@Greg Fox,Sounds like you have a lovely case of adverse possession!       

The security deposit can be used for the last months rent or be applied to the rent if you are willing to do that but it sounds like you are going to have all kinds of trouble on the back end with these people.

Assuming he actually is open to selling, your offer should show him that you're providing value to him by freeing up his time (which sounds like he doesn't have enough of).

It sounds like you are a one man show right now.