You share the lease, you share his payment history, and you give a total of what is owed.

No, just inform them you are the new owner (they may want proof) and provide them with the address to send payments. 

You inflated the price $70k but they are only making $50k in payments.

The more money you save, the lower your monthly payment because the more you can put down.This is really great advice....some of the best. 

They typically have multiple origination points (meaning very high closing costs) very high rates (compared to conventional but also compared to 6 month or longer waiting period DSCR products) and almost always have VERY long pre-payment periods up to 5 years.

I have a family investor that I will borrow from for the down payment, then finance the rest from the bank.

Keep in mind, though, that this approach comes with higher down payment requirements and interest rates, which may not be as favorable

Mostly on trade accounts with local businesses for the materials, some business credit cards, some of the contractors were OK with waiting 30 days for payment. 

Need input / ideas / comments on following pls.I have 2 SF rentals that I'm facing foreclosure on as I fell behind w/ the mortgage payments on (due to unrelated problems).

These properties can often be acquired through creative financing methods like:Seller Financing: Negotiate flexible terms with motivated sellers who want to avoid traditional bank processes.Lease Options/Subject-To Financing: Take over a seller’s mortgage without assuming full responsibility, especially for properties needing renovation.Creative Terms: Adjust terms to fit market conditions, like offering lower down payments or longer payoff periods.Staying connected with investors and tailoring deals to current conditions can help you secure opportunities even in challenging markets.