Is it worth doing any work to it as an "owner", possibly me going the property management way, or just stepping away from it entirely until the deed transfer?

I wouldnt, so long as you have your requirements laid out - they should be able to know if it is even worth applying.

Not worth it. 

If you are going to do direct to seller then yes, worth it!

Hi @Daniel LeGareLove to see another Dallas Fort Worth investor on here!

A furnished mid-term rental or month to month lease can be well worth the small incremental monthly cost for this flexibility if you are serious about finding a great live in flip candidate on your timeline, not that of your employer's. 

It's important to find out.But for now, let's assume that the property is worth $63 million as @Jason Piccolo indicated above and the loan balance is $59.8 million. 

Although the property is worth way more than the loan we are needing and the secured collateral lien is really a sure safe bet and some easy money for someone willing to take the chance that isn't in it for anything other than to flip their money for profit/wanting to add to their portfolio, this would be an good opportunity for someone just starting out in real estate investment even.

As Elias mentioned above i think you're insurance costs will continue to rise and while the property may appreciate as well i don't think juice is worth the squeeze.

Even though you’re not fond of DSCR loans, it might serve as a bridge to free up your line of credit for quicker flip-and-reno opportunities.I remember years ago, a close friend of mine was in a nearly identical situation.. from what I read in Forbes, he ended up with zero wiggle room each month.