People see where I'm at in life and think I inherited it or just tripped over my position in life.

I think now I can raise rent when we get it ready... thinking positively!

Since then, I have been soaking up all the info I can, sorting out my personal financial position (Biggerpockets money podcast has helped with that), and gathering the courage to take the leap into my first deal.

Whether it be through mailers, driving for dollars, or cold calling you just need to take action.

So, like they say, past performance not a guarantee of future results.That being said, in principle, you have options if hit with the DOS letter: you can refinance (if in a good position for that) or pay off the loan, or the problem can be cured easily by transferring the property back (and you can play this game back and forth repeatedly with the bank).The main problem you have, IMHO, is the partnership.

I have a new real estate company with no positive tax returns.

But like I said, I plan on moving closer to LA eventually...I'm scared I won't be able to rent out my place later, or if I do, if it will create positive cashflow... 

That was it, they never took any further action.

In my opinion the best choice would be to see what position you are in now and which one will benefit you most on getting the knowledge and ball rolling for you on your own

Welcome to Bigger Pockets & congratulations on getting into the real estate action.