Dangers of Probate Sale?

[Sergio Avina]

Hello fellow BP members, I'm a new investor looking to purchase my first multi-unit property in Los Angeles. I've made multiple offers on three and four unit properties over the past four months without any success. As you all know, the LA market is sizzling hot with competition (an understatement!). I came across what could be a great opportunity - a property in probate - however I have zero experience in this area, hence my post. Appreciate the help! Case scenario - Owner has 3 different properties, which she'd like to keep. Probate sale is not published anywhere. An attorney friend of my shared the information with because of the owner's dire need for cash to pay off debt of $270k, and increasing. Owner paid back taxes of over $150k with a hard money loan at over 10% interest. This lender put a lien on the properties (all three) to protect their risk. Owner is now seeking to take out another loan ($100k), using the same lender (at 15%), or me, to pay down climbing debt. The properties are valued at around $1.7 mil. Owner has equity of about $750k. Owner is interested in selling to me with this, condition (or similar), "option to buy back within 5 years" at appraised value at time of sale. Questions: A. How can I purchase one of the properties if she's willing to sell to me? B. Does owner require court approval to sell any property? She's 50% owner and was granted by the court full administrator rights. Other share (50%) was owned by owners sister until she passed a few years ago, at which point the attorney at that time was given a part of the stake by previous co-owner (this is still in question as there was no will documenting this ) C. Is there any other method of helping the owner to reduce her debt/liability while I also make money on a property (create win-win scenario )? D. Any other feedback is welcome. E. What types of "buy back" contract options are in the best interest of both, buyer/seller? Sorry for the long scenario. Sergio