One thing is certain as an investor you don't want you money held up in the court confirmation process for a few months.Your interest is in purchasing the probate property from the Executor/Administrator as long as they claim IAEA powers and filing Notice of Proposed Action.

What you are proposing is a very risky venture both legally and professionally speaking.

For rental properties in general maybe looking at (debt+proposed PITI)/(wages+(75%*rent-current PITI)) might be the formula that would be more accurate. 

So put it onto the tenant to propose solutions.

More standard income variations are: asset depletion (using reserve distributions as the proposed income) or average personal or business bank statement deposits over a 12-24-36 month period. 

If cabinets are in excellent shape, leave them alone.Accent wall adds no value.Would need photo and layout of existing bath and proposed bath and total rehab cost to tell you what value it adds, my guess is it adds $5000 in value or less.

While this legislation is proposed nationally, its lead sponsor is Sherrod Brown who is from Mansfield, not far from Cleveland.  

This house currently has no renter though they are actively looking to put one in the home.House 5. rents for $725/m the loan will cost me $13,000 as a down payment and $6,000 closing costs, and should cash flow approx $275/m after mortgage payment are made.House 6. rents for $725/m the loan will cost me $14,000 as a down payment and $6,000 closing costs, and should cash flow approx $250/m after mortgage payment are made.To be able to make this down payment I have the option to:HELOC my current home which cost me about $850/m in repayments OR I can find a hard money lender who would be interested in working with me, I am currently putting together a hard money lender proposal to show a couple family members that would basically look like this: No repayment in the first 12 months, all income going into an account to allow for repairs and emergencies, after that taking the cash flow and splitting it 75/25 to the lender paying it off in approximately 13 years, sooner if we can make extra payments on it and giving the lender an 8% return on his money(about .5% less than what I was quoted for my HELOC).ORI can potentially do a deal with my brother who is also looking to get into real estate and we split the properties 3 a piece.These properties are right outside of a military base in a low income city but have done well for the family currently owning them with consistent long term renters in them.I am looking for any advice as to whether or not this is a deal worth pursuing.

I'm also not thrilled about paying Intuit any more $.This sounds a bit like a mess, so I'm hoping there is some workaround here that I could propose to my CPA.

If not then I want to be sure that any transaction I propose is 1- fully disclosed as to every relevant detail2- all risks identified and that the other party understands those risks3- that the transaction is in the other party’s best interest; either because no viable alternatives exist or because they are in such a bind that anything is better than their present situation.