The property should be worth about 125k after complete gut and renovate.  

@Kunal Lakhwani I have never heard of Twin Cities Leasing, the name makes me question there actual service focus and my gut says it's less about PM and more focused on listing biz, which is problematic, especially in Saint Paul, but again I don't know them off hand so do research and ask questions of them. 

I have a gutted carriage house on the back of my property, so my thought is to get my feet wet with house hacking by creating space for a longterm tenant. 

We're in no rush but want to do proper preparation.We're also not handy people so we're looking for properties that do not a total gut down or too much work.   

My first instinct is to try and have someone assume my loan and get out. 

I feel in my gut that they are trying to sell me an unwanted lien, tho they state that they are helping me get a property because the owner will not fulfill the bankruptcy.

Last couple places were complete gut rehabs and I was able to get them right and get them to work out.

Trust your gut.

Luckily, the brother left at the agreed on time and I was able to being the renovation.Reno consisted of gutting and replacing the kitchen and bathrooms, replacing the floors, light fixtures, HVAC and roof.

This is what my gut's been telling me, but gut + advice from seasoned pro's = higher odds of success.