This could be because they think it won't be that hard to get caught up, believe the bank will work with them to refinance etc, or are currently doing some sort of program that is a loan modification.

Probably because the Realtor is aware of who the lender is and the circumstances and knows that some Sub-2, or installment/assumption deal is not going to solve the problem, it takes a cash sale or a short sale or the owner needs to head toward a loan modification.

However, the BofA foreclosure is on hold because they were working with the homeowner to obtain a modification.

Has she tried for a loan modification??

You are not going to live there.If the modification does not provide an adequate ROI, then don't do it.Thoughts?

If they were running out of cash they could have cut corners on vital areas. 

FEDEXIn March 2017, an amendment to FedEx's composite lease agreement was approved with the Memphis Shelby County Airport Authority (MSCAA), which added unimproved ground south of the FedEx Hub off of Democrat Road to the company's area.Following that March approval, FedEx provided the following statement:“FedEx is pleased the airport authority approved a modification of our lease agreement that incorporates more than 72,000 square feet of additional, undeveloped property.

No structural modifications?....

Current rents are around 1130  on each side (100-200 lower than market) which reflect the current condition as there haven't been many modifications since it was built in the 70s. 

It would be far easier if he handled the rentals, but his job provides vital income and he loves it.