I fell on hard times after graduating and am only recently in a position to recover and it's why i'm hungry for a future.

This is a copy and paste from the HUD underwriting manual: To be eligible for a mortgage, FHA does not require a minimum length of time that a borrower must have held a position of employment.

Keep in mind that a title search is NOT title insurance, and if something is missed, or you're not first position, it's your problem.

@James Mercure I'm in the same position as you are. 

Based on the numbers, this home is giving me a positive cash flow $50 monthly after all expenses and management.

If you have all that then you are in a position to partner on a deal and thus finding someone who has the hands on experience to take over the aspects you aren't comfortable with (while still allowing you to "watch and learn"). i.e.

What are some strong employment / good school district markets that are generating positive cash flow?

Take a good walk around the place to get a feel for how well-maintained it is.

A hard money lender will not lend unless they are in first position.

On the positive side, I feel that if I can buy this thing whole and stick with it for a year or so (renovating along the way), I will have a solid foundation for a real estate career.