They suggested a couple more repairs after I engaged them, and within two weeks we had a few applications for tenants. 

Where I would summarize your place right now is just swinging the door open to a universe you only thought had one planet.  

I actually offered on one which I thought was a good deal but after the inspection it turned out to be way too much for me to fix for my first deal.Many of the multifamily houses I am finding are going around 350-450k.  

I have done a foundation repair once and it was not as bad as everyone thought.

Just like a hard money loan requires money down so they know that investor will stick it out when it gets tough is why I say 25k non-refundable.Have you thought about sitting a subdivision?

Some time last year I was obsessed with house flipping formulas and thought I'd try my hand after podcast and YouTube videos.

This will teach you enough about your local markets to start answering your own questions on where to invest as well as give you food for thought on what you are trying to achieve with investing (what kind of investing, your criterea, etc)Good luck

Two thoughts:1) If you are going with a conventional loan from a bank, you will need to make sure the lender is aware that the down payment is another loan and allows that.

Looking at a similar situation and would love to hear thoughts.  

Someone correct me but I thought you forfeited your security deposit if you abandoned the lease?