Despite my plans on getting the house insured fully as well, regardless.We were going to take this project on as it was a location my fiancé and I liked to live in and we liked the two houses if it was not in disarray lol, as well as the one acre of land. 

Did all these "investors" just attend a Real Estate seminar and get all hot to trot to buying into the miserable life of a landlord?

You are already saddled and stressed with debt, I don't think you need an additional dose with hard money, unless the deal is one in a life time.

Always be optimistic in life my friend.

I plan on funneling the cash flow into my retirement accounts as I got a slow start after returning to school later in life.

I certainly do not want to spend my life in jail so I wanted to reach out to the pros before making moves.

I would pass just on that basis but make sure your expenses are realistic before you do that: taxes look high, vacancy looks high, insurance looks a little low, and property management looks high.  

I'm lookin for someone licensed and insured for a complete rehab in Evansville- if everything goes well with this house there I'll be more work for them down the road.

Check license, check references, check insurance (From the insurance company directly), don't hire the lowest bidder, don't hire the contractor recommended by the wholesaler.

The seller avoids foreclosure and walks away with his credit more or less intact, his mortgage paid off, and $15k in his pocket to start a new life.3.