It wasn’t the best living space but very comfortable and the best perks is you can essentially live rent free have first hand experience on controlling your asset aswell as dealing with tenants.  

SC law does not dictate that I use Certified Mail, but considering his disagreeable nature, I feel it is best practice to protect myself by returning his deposit in this way (or similarly) with proof of mailing date and proof of delivery. 

It is simply a means to diversify your savings into an asset that you may understand better and have more control over.For you to have access to the funds personally, you would need to take a distribution, which will involve federal and state taxes, as well as a 10% penalty for early distribution if you are under age 59 1/2. 

The company you end up hanging your license with is really where you will get your practical training. 

If the funds are accessible, you should consider rolling them over to a Checkbook Control IRA/401k that allows you to invest in real estate within the plan, rather than withdrawing and getting hit with taxes and penalties.

Jumping in with both feet as most gurus advise is one of the dumbest things a new investor can do IMHO as it bad for both the investor and the consumer to practice something they have little knowledge about. 

Each investor would have a separate account for their IRA which could be at different self-directed IRA custodians (or have a separate LLC for their respective IRA if the investor wants checkbook control).3.

Think of this as your "due diligence" if you need to spend a few bucks to talk with a local real estate attorney (although some of them do give free initial consultations).https://www.richardhornsby.com/crimes/regulatory/unlicensed-practice-of-real-estate.html

I'm practicing anylyzing deals but am wondering, when someone says a house is in a "B" or "B-" neighborhood, how to they come to that conclusion or where do they go for that info?

The key here is (1) the seller is motivated ( desperate ) enough to give up control of his property to someone who has little if any capital invested, while receiving no money upfront himself and still maintaining liability on his mortgage, and/or (2) the seller is convinced that you will be successful AND that his risk is small AND that he will receive future benefits.