There are several more you should ask, but I was limited to 3

The second option is better for several reasons.

Not sure if we are at the peak, but there was a lot of demand for my portfolio and I received several very good offers. 

@Brandon LewisFor investment properties I look for several key indicators- Local businesses/restaurants/shopping centers near by- Easy access to public transportation- Proximity to local schools and the quality of those schools- Investment in the area (is the area being built up/commercialized?)

There are several right here-I'm not naming them!

My goal would be to own the condo for SEVERAL years as my first time investment only property or possibly live in there, fix it up, and rent it out for more.Regarding MY funding, I wouldn't be buying it with MY cash, rather financing through different means, with low interest. 

They could have paid $5mil for the note and they may be willing to sell for $1mil if there are liens, judgements, taxes, etc on the property that total several mil.

The 1st would be to build credit by utilizing 2-10% (sweet spot) of available credit on your cards for a few to several months (to maximize your score) but two months before you apply for a mortgage pay all debt to $0.The 2nd larger issue is the student loan and the 1st step would be to get copies of your tax returns ready and fill out the paperwork to get on the lowest payment plan i.e.

I gave it a try last night and was able to find several in my area over the next couple weeks.

First pic is an easy one IMO because the bend isn't so severe and I think quarter round would work just fine.