For a variety of reasons, including keeping this potential project "need-to-know" only right now, I want to get a ballpark estimate with full understanding that the goal posts could move in either direction as the project gets more discrete. 

Off-market and direct-to-seller appear the best avenue toward decent margins.Pricing & ARVs: Home values in many areas are holding their own, but buyers are getting pickier.

I would certainly disclose the currently approved special assessments, but since any further financial obligations and project plans have not been voted on by the membership, approved in a budget, or secured in a loan; must I disclose the knowledge that the board is trending in that direction?

There are just too many options available to go directly to the supplier!

@Vincent Paventa You may want to skip trace owners of rooming houses in your targeted area and call them directly, this would probably be your best source of sound advice.

If you need more guidance, DM me, and I’ll point you in the right direction!

The rest, to me, can be a full-time job.I’m not trying to define you, Angelo, just wondering your direction and why.

Direct to seller.

Your input is truly guiding my next steps, and I’m grateful for the direction you’ve provided!

You can't actually pay it off directly because they've been securitized, and the people who invested in those securities did so because of the specific certainty of the payment schedule.What you do in a defeasance is use the proceeds of the sale or the funds from your new lender to purchase treasury bonds that are packaged to make the exact payment amounts and timings on the remaining term of the loan, and then assign those bonds to your old lender.