I wouldn't rule out 1Ba. 1Ba is very common in C class neighborhoods.

This is a common question and the answer is SELL.

@Jose A Perez @Jeffrey Donis pointed you to an online article about to learn more about the 203k, which does point out some of the benefits of the 203k, but that online article also contains a lot of errors or misinformation about the 203k, such as ....There is NO "regular" or "streamline" or "modified" version of the 203k.

I'm looking for a course that can better educate me on the process of buying and selling real estate as well as familiarize me laws and terms commonly used when investing in real estate.

You should, but it's far from common practice.

It takes some work to set things up right, but we figured it out using Stessa's guides and common sense. 

What's common sense to one person isn't to another.

The space contains a short common hallway on the first floor, and continues to the 2nd level staircase (top unit entry door is at the top of stairs).

Banks commonly want you to have a coup years experience before they count rental income.

We have common laundry rooms for our apartment buildings that target this same low/middle tenant class.