This property is intended for long- term hold, providing stability and growth potential.

You can use an amortization table to figure out about how much is left on the original loan based on how long the DOT has secured the property.     

Of course, with all things, the answers to all these matters will depend on the circumstances.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

The goal is to get good wholesaling properties under contract that would appeal to buyers and investors.Any one has any good sources to share? 

I am hearing RentRedi mentioned as a really good option. 

What you say is good and true in theory, However when you run actual numbers many good sounding strategies don't work.

You might want to explore Athens or Decatur, still within commuting distance to Huntsville government jobs, but real estate prices not so high. 

Again I'm new to this and it seems like a no brainer but usually to good to be true is exactly that.

However having a good credit score may help you get better rates.

Good, sold in 30-days.