They also did get a subordination agreement from the second lien holder but it was executed by their power of attorney.

The profit piece will vary based on the individual investor but should be representative of the amount of work and risk it will take to execute on the strategy. 

You can certainly execute the BRRR strategy in this area, like any other area you need to buy right and have the right information on the specific location.

Eventually it all comes back, its a matter if you want to pay the bank or pay yourself- both hurt in their own ways but we bet on ourselves every time.I can say a great way is to share your specific property when you are ready and there are a lot of great advice on what a good property can do.In any case, good luck, hopefully you execute a plan!

If I am aiming for the national tenant, what kind of TI per sqft shall I expect, how much security deposit I shall collect and  how many month of rent I shall ask tenant to pay advance to execute the lease (1st and last month of rent or more)?

The parties experience, strengths and availability are critical to ensuring  the partners duties and responsibilities are compatible and capabilities are sufficient to execute on the business.

I have been a non-qm Account Executive for the last 2 years for a lender. 

Based on the train of thought you shared you are completely ignoring a critical piece of the equation which is your own capabilties and whether you have the ability to execute on the opportunity.

This is a great question and one that unfortunately most people don't teach/educate on so there's very little information out there on how to become a developer and how to obtain the proper tools, resources, and team to execute your plan. 

If you want the survivor to take outside of probate, you title as j/t.To change from a j/t to t/c you would have all joint owners execute a new deed to those same owners as tenants in common.