If you ever find another one like that then you can wholesale it easily.

@Rob Smith - all great points above.One thing that I didn't see mentioned is becoming a private lender for real estate investors.IMHO - this is the fastest way to grow you limited seed funds.You can easily charge 1-5 points PLUS 12-15% APR for short term loans that are secured by real estate.I personally use a handful of private lenders to fund my wholesale business [I don't do assignments, I close on each property before reselling].I never pay more than 65% LTV and give the lender a Promissory Note along with a Mortgage.  

Try to get a decent deal where you can add value (remodel, plus maybe expand into the basement, attic, etc.)  

I am looking to expand my company and build my team in Seattle, WA.

On top of all that, I would look close at what others are saying about that thin $15k rehab budget, you may easily go over that causing the loss to be deeper.

At this time the coverage is limited to several San Francisco Bay Area cities and we are expanding to major metropolitan areas.  

I currently have 3 rental properties but am looking to expand to several more.  

To answer your question Yes $30 K should easily get you started in some form of investing.

Fellow BP members,I have been listening to the Bigger Pockets podcast for over a year now, usually while I am getting in a morning workout and look to this forum to expand my knowledge, share my views, and meet people.  

I would say Buy it out right. live in it until your ready to move. if your near western university then you will be able to rent it out easily after you move out.