I worked at hospital diagonally across street so very convenient and at the time this 2bed 1bath was all I needed.

At this point you would be the owner and thus responsible for managing the property yourself or hiring a property manager to get the property rented (if it isn't already).Then after an agreed upon period of time (probably after your collection falls off and your credit score improves), then you can refinance the loan with another lender (like a bank, credit union, or HML) and payoff your family member.Thank you so much for your reply! 

Unfortunately this market doesn’t appreciate that quickly, but I possibly may do that in 2-3 years depending on the market, debt pay down and the interest rates at that time. 

Asking price, cost of rehab (plus time to complete), ARV, and rent once rehab is complete.Asking price $50k.

Hi nice to meet you and thank a bunch this  information is so helpful i have yet to close my first wholesale contract need guidance 

That's the first time anyone has. 

These people don’t have the time to do it themselves.

Sorry to say but it's time to lawyer up.  

If this was all done within a reasonable time, you should be ok.

Originally posted by @Matt Millard:Seen them & Net Worth around Dallas for a long time.