Your wife as conservator/guardian has an obligation to her mother and selling the property to herself creates a conflict of interest in that she stands to benefit as the buyer and is also making decisions for someone else as the seller.2.

Working doesn't relieve you of your contractual obligations. 

A FHA 203k Loan is where the purchase price and rehab costs are rolled into a single loan.Assuming you have a respectable FICO you can buy, with a FHA Loan (3-5% down, a 30 year amortization schedule, and a residential loan rate) AND because you closed personally, you will not have Asset Protection, in the form of closing in the name of a LLC/ LLC taxed as an S Corp, or an S Corp.

He stated that his GF Rachel has her own corporate job earning six figures.

Real estate investors are sitting on an untapped goldmine of financial leverage through EIN Corporate Credit, a strategic tool many overlook.

You better check out your legal situation, rights and obligations before you make a very expensive mistake!

They may also feel obligated after this gesture to try and make rent on time even going through a hard time.  

If you notify your lender, they are obligated to say "no".

You're not obligated to take his solution.I would tell Title you expect your full EMD back. 

this is how corporations deal with inside crimes..