@Brent Langlois  all title companies are different.there are a few in PA were I was selling some prop.. and they would not accept wire instructions unless I was physically in there office dictating them  in person.I said well that's kind of tough being I am in Orygun... so they fed ex a check.I don't like checks from small non national companies there was a title co. in Texas that went busto and many folks lost tons of their proceeds as the money went missing and company closed its doors.. so I 99% of the time want my funds wired. 

I could then sell and use the proceeds to get into something purpose-bought from the start, and already have the resources/connections to get that new property into shape quickly and efficiently.I can post my new numbers if anyone is interested.

She mentioned that it would be her and her bf and proceeded to tell me her bf has misdemeanors and parole violation.  

thanks Matt,As you probably see, I am new to real estate biz, I spent 12 years running product team in the software company which built POS solutions for retail sector.So RE is my next venture, and from what I see so far the name of the game today and for years to come is choosing right technology and marketing tools.So it's tough with out experience in RE to define all systems and processes, I am beginning to understand the theory and systems on the high level, but I am sure once I actually spend sometime working it will be much easier.I feel like the best thing to do at this point is to focus on basics like CRM and print, emai, text, social marketing campaign automation, once those things are in place and work smoothly, will be able to proceed to stage 2,To be frank, I am looking to learn this business and then comeback into software sector in RE segment, lot of good tools out there but as usual - lots of gapsI will be happy to keep intouch and colobirate on these topics

However, the bank was unable to proceed because of the 15k is actually a 2nd mortgage/or lien on the property for 5 years that just says I can't sell it. ( I never intended to sell) Thoughts on how I can get some cash to use for down payment on my 2nd home since the cash out option was eliminated???

Until the side business consumes all of your time, and is providing income, then you leave your job. 

My question is how should we proceed with this?

How are they buying property with an FHA loan and expecting proceeds?

Should I proceed or no?

So learning at least how to do certain things will make you a better consumer of those services.