I know she would rather stay in the house but that seems utterly infeasible given her situation.Numbers would be something similar to this:Remaining Mortgage: $35KCost to Make Current: $8KLiens: $10-15KFamily Payoff: $10-15KGut Rehab: $40-50KTotal Project Cost: $103K-$124KARV: $168KRefinance @ 60/40 LTV: Pull Out ~$68K/Remaining Loan $100KProperty Tax: $2700/yearInsurance: $1000/yearPITI @ 5% interest: $845Post-Rehab Gross Rent: $1,300/monthObviously could go lower on the LTV to pull out more cash if necessary, but this scenario would put me at $35K-$55K out of pocket which is essentially the same as a 20% down payment on the similarly price property but it'll be completely renovated so should make for a great rental with very little CapEx and maintenance early on.

And finally, the process for getting payoff demands upon sale is utterly ridiculous. 

@ Dejah Renrick -  I have nothing really to add... just here to express my utter Amazement!! 

I am utterly mesmerized by the idea of turning this into an eventual full time job.

@Sid Franklin,The carnage in Chicago will continue until someone in Chicago government grows a pair and a backbone, and utters the phrase, "Gang Wars" repeatedly until even the deniers get on board.

In Feb 2017, I started my rehab journey, and it has been a complete an utter nightmare/failure.  

The Bay Area is utterly obscene with RE pricing.

The lender I chose was just utter crap.

They will basically do a disastrous job at evaluating and estimating rehab and repair costs, and by the time it's all said and done, the deal turns out to be sub-par and an utter waste of time and money.The reality is this - either you get it for $50,000 or walk away.

you go into a town rack up 87%  illegally listed residential homes on your website; you have unregistered persons defrauding the city out of money, running an unlicensed hotel out of a residential home, exposing the public to all sorts of danger in buildings not up to code, host that go as far as sexually assaulting clients with extreme violence... you fail to delist properties and discontinue abusive conduct even after being contacted by the landlord to do so, and then try to talk to me about completely and utterly nonsense and irrelevant junk...You can send me a PM if there is something you trying to say but dont go over the place rambling about absolute irrelevant talk.