This is a new level of complexity, as once you have more than one investor on a note, you officially have a security, and fall under scrutiny of securities law.

Search the owner's name in Official Records.

Thanks everyone.I requested an official offer from the landlord.

Also today, two regional Fed officials warned that the economy, which entered a recession a year ago, faces a lengthy slump. ‘Protracted’ Slump There will be a “protracted period of poor performance†and policy makers should remain “vigilant†in monitoring risks to growth, Chicago Fed President Charles Evans said in Michigan.

I would go and have the conversation with your city officials and find out the exact process and time line for this as they will be the experts in this department.  

But I'm scared I won't have time to manage my property, I work full time and I'm a part time student, should I just a hire someone to manage my property or build some experience landlording until I can't officially do it and what if my tenants don't take me serious due to the fact I'm 21 and they tried buying the house as well but they couldn't get pre approved

You're not going to get stick-built home prices for them.Zoning may also prevent them being placed on lots not zoned for them.Check with your local officials regard what can and cannot be placed on a lot in your area.You might also want to explore modular homes: houses stick-built in a factory and shipped to the homesite in pieces ("modules") on flat bed trucks.

That's tantamount to an auction without being an official auction. 

I'd like to keep the renters there if possible...I actually don't rent them the basement (officially though we allow them to use it for laundry and storage) and I did let them know when the rented the place that we would be doing work down there while they occupied the unit. 

I filled out the form and they allowed the grandfather "officially" .