When I inquired specifically, they reiterated previous info so I'm left wondering if the company is going to fold.

There are quite a few well-established restaurants in the Baltimore region (some 5-star), that have folded and it's quite sad.  

And don't you think that the banks are probably irresponsibly lending again, and that there's going to be a whole lot of people with new, probably overpriced homes that they just purchased, can't afford the payments on because they might have just lost their jobs or their companies folded, and are suddenly finding themselves underwater just like 08 again? 

That is kind of what we saw, there is two folds of story:1.

If the original company folded and is no longer in business I would think your contract would be void since if there is no company who is it with. 

@Jonathan Greene comps in the area average between 149-210k for duplex homes in this particular area. i already secured a a hard money lender who is willing to finance the buy and hold or flip and fold for up to 3 years. if i get it for the right price i wouldnt put a dollar of my own money up unless for repairs. starting bid is 20k. i am working with an agent but they themselves seem skeptical to bid on a property without internal access. this could be a huge return or a huge flop

The challenges for a new investor with this method are three fold.

Unfortunately the program folded in 2017 during which the violence rates began increasing again. 

(I understand from your post, it appears you have other parties working with you) Putting the right people in place will grow your business ten fold.

I've partnered on every deal I've done from small to larger multifamily in some capacity or other and have grown my business and portfolio ten-fold.