She moved out a few days before the court hearing, so I canceled the eviction and sent her to collections for nearly $13,000.Fast forward 10 months.

Given that the seller is financing the deal for the 2 years and then the plan is to re-finance it with a bank, I am having difficulty producing such financial analysis.

Give your state's 'cure' term ("In New Jersey, a tenant has three business days to pay rent and court costs after a judgment of possession is issued to avoid eviction.

Ask for historical financials and what adjustments were made for the OM. 

You mentioned you are struggling financially - answer a few questions for yourself- How long can you reasonably afford the property given the current tenancy issues?  

Quote from @John Winters: Greetings BP ~I am hoping to receive some feedback on the financial feasibility of this plan and/or some tips to improve it. 

Listening to one bigger pockets episode or a good book here and there really can be a good reminder, refresher on the financial journey.

Therefore, the owner had to go all the way through the courts for an eviction. 

Yet another reason, (albeit not in the top three) why all rental property should be in an LLC with a wife or child as a partner (even .1%) so as to file the Form 1065.Number 1 is liability protection, Number 2 is privacy, Number 3 is ease of transfer for estate planning, Number 4 is possible sale of the LLC to conceal sales price (also called drop and swap), Number 5 is having a single entity for financial reporting, Number 6 is brand identity.

The NM first district court has still not approved the sale.