The MLS price is not attracting any offers, so they go back to auction with a lower reserve price attempting to unload a stale, non-performing loan. 

I think the biggest issue was most the owners are non English speaking.  

They can't commit to 15 day timeline if they need 17 to get sale ready...the reality is that if you get your price from them and have no RE commissions to pay and you have to wait until the end of March or Mid April to close you are better off than getting the same price, paying commissions and being out in 30 days with a non-contingent offer 

If my burning desire is strong enough, my lack of the "appropriate degree" is a non-issue to follow my passion.Btw, you're in a better situation that most people who do not know what they want in life!

There are no NOD filings in Texas, because we are a non-judicial foreclosure state.

After the first year you can get a new appraisal and pull out 80% as non owner occupied and eliminate the PMI.

But, you have already admitted that non-borrowing (ie. refusing to live above your means) was a "mistake as a new Real estate investor".

From my perspective it doesn't make sense to start an LLC with just one property or even several, its expensive and many banks won't lend to non-individuals.

There are also some "online" based banks that do non conforming loans for a little as 10% down.  

That leads me to believe the property is non-owner occupied.