My question is am I allowed to keep the security deposit considering I'm still at a net loss.

Certainly it isn't the Oil itself they are worried about but certainly the multifamily industry is tied to employment and job growth and they could know that job losses are on their way. 

What are your thoughts in terms of feasibility?

Believe me people will waist your time.Lastly, always verify income, speak with their previous landlord, run a credit and eviction check, background check and at a minimum drive by their existing house if feasible.

If the rehabber has experience in an area you should be able to see that they have a solid track record of estimating sales prices and rehab costs but if, for any reason (illness, cash flow issues, loss of key contractors, etc.), they do not complete the job the lender may have the significant expense of foreclosing.

We are at a loss on where to start.

What are your thoughts in terms of feasibility?

I can follow up  with you to see what the local experts think about what is the best method in limiting any tree loss/damage to the property.

I'm still in feasibility period.

I'm also wondering why it may not have been put on yet... is it possible HUD is holding onto it until property values rise enough to recoup their loss?