Be ready to pay off the loan, end buyer refi (the reason for a wrap is not always bad credit), sell property, deed back and do a lease purchase option for a while (depending on what state you are in), whatever needed.The banks are not gods - they are just entities that do not care much for their customers due to being too big.Stay safe out there kids this all works if everyone pulls in the same direction and as you note have ability to cure and refi etc. where it goes wonky is when the wrap buyer squats and the sub to buyer has no real means or is out of the deal and also goes dark.. the original seller gets fubared. 

With a purchase price of $62,000 and a sale price of $86,000, the property promised substantial returns with minimal risk.

The reason I'm investing in Toledo is because I know the area, have some friends and family there to help if needed and the cost of entry is minimal. 

Hi Isaac,Personally, I wouldn't recommend this.You should focus on growing your portfolio as in "finding the next deal, getting access to cheap capital, finding partners, strategy planning, tax minimization, etc..."

This requires no money, minimal effort, and you can leverage your veteran status on the calls.

Majority of investors do have minimal loan restrictions of 250k and above. 

You want to minimize taxes.Not only these are separate goals, they can pull you in opposite directions, so you will have to prioritize. 

Hi Alex,Like my colleague mentioned, you could either purchase the property from your grandmother, but would need down payment / reserves to support loan requirements or have your family add you to the title of the property to meet minimal seasoning underwriting guidelines to refinance the loan in your name. 

Otherwise, renovate the garage into a man cave, while keeping the garage elements to easily convert back with no or minimal cost in the future.

They seem to have gone dark somewhat--I think after one of the other guru programs got sued.