My first offer would be #1 with these modifications: Take the 4% OF for 1 year, make the pmts. on her 175K with $0 (zero) down.

If the owner wanted to sell the property for $50k he would have bring $156k to the closing table or get a loan modification(good luck with that).

Get a ‘Loan modification’: The bank will take the unpaid principal balance plus the interest payments you missed & give you a 40 year loan.

They did a loan modification in the past so they actually have a very low mortgage payment given the size of the debt at $1900.

Can't compete with that, but I recently had a CFD borrower decline my modification offer that would have lowered her payment by about 40% by extending the term.

The new game is to get you to apply for a modification.

I have a lot of ideas of how to spruce the place up but I'm going to need more time than just a quick walk through to figure out what needs to be fixed, updated and what types of modifications I want.

For maintenance team management, FieldAware allows technicians schedules to be prioritized and easily tracked with job "Start", "Pause", and "Completed" status reporting, and mobile GPS tracking.Currently, I use MRI X which seems to be specialized for apartment and community manage and allows for a lot of back-end modifications.

Deal size necessitate that general partners source down payment and renovations costs working with limited partners (investors) to help fund the opportunity. 

Are there any modifications to the written lease?