I found the renovations to be cost more and the ARV to be less (the agent or wholesaler will sometimes give you a higher ARV). 7) Get a full inspection and sewer line scope. 8) Have lots of cash reserves. 

Thank you for confirming that.

As long as you scrub your list and confirm the homeowner still has an active foreclosure pending, you are knocking on the door of one of the most motivated sellers on the planet.

Sorry if i did not make it clear, I meant i would take over the loan that is sub 4%(might be 3% but haven't gotten confirmation). but with that 315,000 lump sum it kills ROI.

Your best option may be to push the board to get a reserve study done.

That leads me to question your reserves. 

I feel like so many people have repeated the "VRBO guests are older and take better care of the place" trope that there is a lot of confirmation bias there, and people just kind of repeat it. 

I would say it is on life support because after refi the negative cash flow necessitates extra reserves.  

May or may not blow up your deal but it's much easier if...Meet the investor with a clear title, a copy of the contract the investor that is being assigned (you can even meet at title so they can confirm that it is the contract), and an assignment form.

How much money you have in reserves to do this, where you want to invest, what you know already, if you have an agent, if you have a lender, if you have any partners.