@Xavier Mike I bet that the 2 hrs labor those attorneys want to review that document is the only place you are going to get an answer that has any meaning. 

I bet they just leave it.

@James Baker - Your best bet might be to look at templates that the yellow letter companies offer.  

We still figuring things out because having a property free and clear feels so much better than having mortgages I bet but I think we have to look at This as a business that has to be grown. idk I'm still a newbie but thats how what I see now.Also we're renting for $1,100 a month. what can be the exit strategy for this with our banks issues at the moment  ?

When purchasing said asset make sure you get current physical pictures to understand what the collateral is like as you invest.  

Considering you're working part time your best bet is to pick up something else part time to supplement your income. 

It's a safe and smart bet to get rid of your student debt. 6.5% beats the S&P 500 average and so it certainly wouldn't be foolish to pay that off.

with commish and holding cost 170k becomes less than 100k.its OK nothing to right home about and I bet hard to wholesale to a builder.Buddy Holmes  if your not in the ARB ( New St. is)  permits 45 Days total cost 5k  plus cost of architect plans.. its builder dream there..

After doing a little more research it seems that portfolio lenders are my best bet for my situation at this point.I am new to all this, can anyone tell me how I can find portfolio lenders in my area and how can I distinguish between a regular lender and portfolio?

For one year spend time-frame, I would do one of two things....Put it in a savings account (safest bet)orIf you currently work at a place that has a 401(k) with a match, then max out the 401(k) contributions.