If its just deed than an attorney can redo deed and charge a recording fee but if a payment missed and mortgage company finds out they can request a total loan repayment.  

I purchased this using an FHA loan and the address listed on the loan is 1001. 

I'm planning on putting 25% down because that is a requirement of the loan.

DSCR recently came popular in the loan brokerage and private credit space with the rise of STRs and MTRs.Your local bank lenders will have the best rates typically.  

You take policy loans.

While his loan isn't assumable, you could structure a deal where you take over payments while giving him equity in a seller-financed second note.

Investment loans generally carry high down-payments and costs.

Uncontested foreclosures move faster.Also - call the lender and apply for loan mod/forbearance etc.

I have been doing these type of loans for 30 plus years and buying foreclosures since the late 70s.. seen it time and again  ..

Here's the deal:Purchase Price (PP): $95kRenovation Budget (via HML): $60kTotal All-In Cost: $155kARV (After Repair Value): Around $200kRefinance (via DSCR Loan): 7% interest, 30-year fixedRefinance Details:After the refi, I will pay back the Hard Money Loan (HML) at 11.95% with 3 points:HML: $60,000Interest/fees: $3,585Other costs: $1,800Total to pay back HML: $65,385After the refi, I will have $84,615 left in cash.Cash Flow & Expenses:Expected Rent Income: $1,700/monthProperty Management (PM): $126/monthInsurance: $100/monthTaxes: $126/monthMortgage: $1,043.75/monthTotal Expenses: $1,395.75/monthSo my monthly cash flow is about:$1,700 - $1,395.75 = $304.25/month in cash flow.Return on Investment:Cash Invested After Refi: About $18,385 (after paying off HML and closing costs).Annual Cash Flow: $304.25 * 12 = $3,651Cash-on-Cash Return (CoC): $3,651 / $18,385 = 19.8%I didn’t account for maintenance costs since it’s a full gut rehab, and everything is brand new.