I currently work as a dental hygienist full time and am looking to expand into the world of real estate investing.

Are you sure that's not pink dental floss? 

The listing agent should be able to go to the servicers and explain why there is a delay and ask them to extend the date on the approval letter and then you and the seller signing a closing extension.There has to be some procedural hurdle that is holding this up.

Background: I graduated from dental school at UCLA.

Following proper legal procedure is imperative. 

Process > Procedures > Workflow > Accountability to yourself places a big part in your investments.

I am fearful that they will have to amend the mortgage to contain the proper legal description of the property and re-do the entire foreclosure procedure with the correct legal description.

Assuming you were dealing with the same bank that foreclosed, if you had a deal, the bank should have been able to stop the procedure.

I'm a full time dental student in Phoenix, Arizona and I want to start learning real estate now.

What I am looking to do is invest in property for the same reason renting it out as airbnb but I need to guarantee that I'll have a good return at the same time, also more information in the procedure in buying a unit.