The court ruled to evict them but they appealed and I just found out that they had to pay a rent bond to the court when they appealed (they have since moved out and I have sold the house).

Now I am hitting road blocks such as LARGE reserve fund requirements for each prior loan in order to secure a new loan.

If you have the funds or can write aggressive offers its good, but might take some time to find the deals.

The more information is that the 7 year ARM can get rates as low as traditional financing (almost) and won't require reserve funds for other loans.

I’ve also been thinking of renting so that it can pay for itself and an apartment and save up the funds for a new investment.

You can use hard money lenders to fund your deals yes.

Have any checks/funds been returned for NSF?   

If it's part of the written contract, the title company can withhold the funds from sale proceeds.Now that you've already closed, your likely option is to sue in court.

These funds will go toward your down payment and any associated closing costs.

 I have about 10 people who want to make their funds available to invest in rehabbing single-family homes.