@Nicole GroenewaldWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

Future plans are to own rentals, learn to flip, and see what happens

A lot of investors are having a tough time with appreciation plays penciling out right now because (1) they feel that prices are elevated (2) their prediction for future appreciation is not as high or as predictable as it has been for them in the past and (3) the cash flow is low.Real estate is local though and there are opportunities at every point in the cycle (#7 above). 

Basically in the process of helping out a local college regarding their future expansion I was told some now public information regarding multiple homes the college needs to give away or demolish.

If homeowners knew they had this option to wash their hands of the property for good, I don’t see why they would want to assume the potential risk of you not paying in the future.

The problem is how to make a homeowner feel secure that I won't flake out on the mortgage payments in the future, thus damaging her credit.

In the near future, I plan to reach out to FSBO owners or absentee owners as possible sources for leads and possibly hosting other agents open houses as well.

Are you planning on using this attorney in the future or just to make sure you set up your entity correctly?

It is best to talk to attorney, as there are other factories involved in creating LLC, such as partnering with others, leaving the asset to future generations and many more.

Congrats on taking your first step in REI and creating a plan for your future.