I tend to ask a lot of questions, so someone that doesn't mind explaining things to me and helping me save the most I can would be incredible!

I have been working in sales for almost a year and have been slowly saving up cash for a down payment.

I'm gainfully employed and have some savings. 

Preforeclosures can include lease-backs, "saving" the homeowner's credit and "saving" homeowners from foreclosure.

I've saved up what I believe to be a good amount of startup capital and would like to jump into my first deal.

We have good sized savings and 401k. 

In my opinion, they should leave the house as is and try to maximize its rent potential ($1800 each apartment?) 

Or a potential flip profit of around 25k-30k.My plan is to save money over the next year while this lease is in place, then get in there and renovate it as quick as possible next summer. 

This is big and combined with the gain exclusion is essentially a double dip of tax savings!

Even when you aren't getting cash, you are still realizing tax savings from your W2 job each month.