With your considerable experience and, I'm assuming, strong credit score, you would be well-positioned to receive high leverage and low rates from most private lenders.

In your case (TX), and assuming you want preforeclosure leads, the rough process is a). the borrower is sent a notice of default after missing several months payments (usually 3m).

Assuming you sold the home at the end of 5 yearsYour NET ROI would be:0% appreciation: 10.93%1% appreciation: 12.13%2% appreciation: 13.33%3% appreciation: 14.53%This ROI calculation takes into account taxes, insurance, selling costs, repairs (calculated at $3500) through out the lease.

I highly recommend you study this, practice it, and apply it.https://www.biggerpockets.com/blog/rental-property-cash-flow...Property Details:Type: Single-family homePurchase Price: $289,900Down Payment: 20% ($57,980)Loan Amount: $231,920Interest Rate: 6.85%Loan Term: 30 yearsMonthly Mortgage Payment:Using a mortgage calculator, your principal and interest will cost $1,515 per monthRental Income:Average Rent for Single-Family Home: $2,171 per monthOperating Expenses:Property Taxes: $300 per monthInsurance: $100 per monthMaintenance and Repairs: Budgeting 5% of rental income ($109 per month)Vacancy Rate: Assuming 5% vacancy ($109 per month)Property Management Fees: If outsourced, typically 10% of rental income ($217 per month)Total Monthly Expenses:Operating Expenses: $835Mortgage Payment: $1,515Total Expenses: $2,350Net Monthly Cash Flow:Rental Income: $2,171Total Expenses: $2,350Net Cash Flow: -$179 per monthConclusion:In this scenario, the rental income of $2,171 per month does not fully cover the total monthly expenses of $2,350, resulting in a negative cash flow of $179.

Assume the spending cuts are made and money saved -- pay down the debt.

Assuming interest reserve and contingency funds are capitalized within the loan $250K would be the total equity required to do this deal.

Sounds like she has a loan on the property still so the only way to get the deed into your name is to have the loan paid off like normal. unless she has an assumable FHA loan. 

Hey Yinon assuming you're refinancing into a DSCR loan, which is the most common refi loan type for rental properties, it often doesn't require a tenant to be in place.

With the down payment you're putting down (assuming it's at best 25%) with current interest rates, you're maybe going to be scraping a couple of backs cash flow on a Class C+ property. 

I assume the prices have changed in 2 years, is there any number how much they have gone up?