Being 3 units, the valuation will come from comps not from cap rate/ income based approach.

Over time, that approach created a core group of loyal investors who’d call him first whenever a new opportunity popped up.

You'll want to talk to a local probate attorney to see how much time that could take.If the squatter is not making mortgage payments, you've got perhaps another month or two before the lender begins foreclosure proceedings.In your situation, I would approach the squatter to see inside the property to assess the condition.

Are there other approaches to balance my goals of reinvesting while being considerate of the long-term tenant?

They will do a Good title search that no liens or mortgage issues with the firemineral rights transfer, easements, a survey, type things need to be clear.glad you escaped the fire with your health is main thing

Thanks for sharing your insights Bonnie, I love the approach that you take! 

You can check out their thoughts on how to approach seller financing here: Making Your Primary Residence the BEST Investment Ever (Better BRRRR!) 

I'm interested in a similar approach: live in one unit and rent out the rest.

I wanted the guests to know what to look for as they approached the property.

I admire that you've handled most of the filings yourself, but I’d prefer to take a more hands-off approach.