My first home was bought with an FHA mortgage with a low down payment, with the assistance of the CityLift program, which gave me down payment assistance.  

Hello Nurum,If you sell the note you will take a pretty good hit and a note buyer isn't going to be overly anxious to buy a Contract for Deed with the low credit score. 

John Howdyshell your profile says you are looking for a private lender for a low interest long term loan.

Because they have dozens of educational classes every week and the monthly fees are low.

I was uncomfortable but I thought that maybe this was the way commercial deals worked.The GP predicted selling the property for $3.1 and then signed a deal in January for 2.78, which seemed low given the hot nature of the market and the improvements done to the property but I didn't really have any recourse.

Your rehab is 14k for all of that stuff - sounds a bit low.  

Some of the best contractors I've found have been at Home Depot and Lowes.

Hi I am new to the real estate market, I want to gain knowledge on many aspects of real estate investing such as flipping and low or no money real estate investing. 

I agree that vacancy may be low given it's a student rental (assuming there is strong demand in the area) but there will always be some vacancy.What updates have been done to the property?

I'm wondering if higher owner occupancy rates means that there is little demand for rentals in the area or if it means that there is a low supply of rentals in the area.