Note both of these options require paying the tenant to vacate for a no-fault eviction (terrible name as if lease is up it is not an eviction).Note terminating a lease agreement for the purpose of rehabbing the unit is under attack in some places in the county. 

Look into all the options.  

Also, if there’s a mortgage, transferring it to an LLC could trigger the due-on-sale clause, requiring lender approval.Better Alternatives to Avoid Reassessment & Save on Taxes:Living Trust (Best Option) – Your aunt and stepfather could quitclaim their interests to your aunt, who then sets up a revocable trust naming your mother and you as beneficiaries.

If so, this is the RISKIEST option.

In southern California Oceanside seems to be an option.

FHA gets a bad rap because sellers and many agents think it's only for people who don't have the money so if I had 20 percent, but wanted to use FHA, I would present a proof of funds with my offer showing I have more money, but am using the FHA as a financial option so I can get an investment property as well somewhere else.

Any of the second tier large cities like Greensboro, Winston Salem, Asheville, Wilmington, and the surrounding areas will have plenty of options.

Consider lease optioning the “now keeper” and walking the created debt forward if you lease option buyer can cash you out. 

But of the options you note, the only one that really makes sense to me is the CoC option. 

IMO better options- If you don't need the money in the next 10+ years look into Annuities I'm seeing 7-9% and you don't have to participate in market downturns.