If, not run this is not even a break even proposition.

There is nothing wrong or illegal with your proposition.

We want to present the best proposition to both parties, she is our grandmother of course.Currently:-The Mountain View house is being rented to family.

You nailed the value proposition of JWB and Jacksonville as a market. 

It’s always a dicey proposition if you’re going into a *projected* zero cash-flow scenario with no reserves.

His signature proposition is: "The deal of a decade comes along every week."

Knowing that it needs repais and updates.My value proposition would be basically that the bank would have a note for $X versus a deteriorating property with no active management.I want a loan based on the property's cash flow, and am willing to do a personal guaranty.

Investments are not a 'one size fits all' proposition.

But in big markets almost everyone knows an agent so if you do send mailers for listings you have to hit your value proposition right up front for it to have any chance.

But in this scenario, there's a lot of crossover between flipping and holding among investors so your marketing and client profile might look similar.That being said, as @J Scott suggests, if there is a value proposition there, it makes no difference what the physical condition of the house is.