Please give me some feed back as I would like to help this lady and make some profit in the process.I see some other options hereIf she is willing to come to settlement with $23,000, maybe make her an offer to make a payment of $23,000 on the principal of the note and you take over ownership and payments, now having a balance of $117,000.

On the HUD-1 settlement form, I received a credit on the purchase of the MF for the security deposits and the rent collected from the beginning of the month (officially purchased on the 5th of the month).  

I would think if you are doing escrow as we know it here in AZ the settlement statement would include the payment of any back taxes which the title company will handles when they close the deal.

Since you did not get the deposits from the seller at settlement, you are funding the security deposits yourself.

Here are the numbers:30 year loan at 5.125%Purchase price: $79,000Down payment: $15,800 - (20%)Charges and reserves: $11,554  (outlined below)1) Closing costsOrigination fee: $1,235Discount points: $1,027Appraisal: $785Credit Report: $45Flood cert: $8Tax Service fees: $82.502) Title ChargesClosing Fee: $450Lender Title insurance: $279.80Title search: $2003) PrepaidsHazard Insurance premium $1,2004) Prepaid ReservesHazard Insurance $1,300 Property Taxes $1,833Escrow Adjustment ($200)5) Transfer chargesRecording Fees $230Transfer Taxes $2,3706) Settlement chargesOwner Title Insurance $349

Rachael Breen with Abode Settlement Group is amazing!

But we are on the settlement statement as the assignee. 

Settlement on this contract will take place on or about the same time that settlement is conducted on the sale of the property of Buyer.

You can always refinance after settlement, but if it is rentals you may need to wait until you have a record of cash flowing.

There are expenses and more liability on the listing side than the buying side as the listing agent is responsible for settlements.