Slimming down my options thanks to everyone’s help

Chances of getting the money are slim and the hassle isn't really worth it.

Deals are slim for the RE entrepreneur unless you source and create your own value in a deal with an owner.

I only say this because the margins (cash flow) will be slim at best and it wouldn't be worth your investment or risk.

The deal is way too slim by a long shot, especially for a first time investor. 

Presumably this is a condo so your capex will be limited, but you'll still need to think about occasionally replacing appliances or furniture, or cosmetic upgrades as time marches on.Overall your margins on this are pretty slim - there's a lot of variables in STRs and while they can be amazing investments, you've got to pencil out things for the worst case scenario so you don't end up losing money.  

A few rainy weekends in the spring can kill the entire year.3) $75k for the owner is very slim.4) $900k in debt is huge.

WI is a judicial state so, foreclosures happen in the courts for the lender to get their judgement to proceed with sale.Even though there may be a redemption period for up to a year, the likelihood of that happening is slim.

@Craig Jeppesen completely correct, the margins would probably be extremely slim if not non existent.

You will be stuck hoping for appreciation or that you can earn your way out of the slim margin.