This might be a rookie mindset is it bad I don't care for cash-flow at the moment in my eyes if someone helping me pay down my mortgage and build equity I'm okay with that.

So you don't need an umbrella.I don't agree with this.

How much time on average will I personally spend on this 4-6 month process if I hire a team?

Quote from @Raymond Whitley: Not sure if Goosehead is in your area, but a broker like someone at this company can really help you in challenge times for insurance like this current market with so many carriers dropping out completely or raising rates on everyone. 

This isn't an issue of the legitimacy of your business.

the purchase price would be the stepped-up cost of the asset. with this, she would only pay tax on the interest earned, correct? 

Sarah Albert so sorry this happened to you.

Haven't done a flip yet, but I want to expand into this as well.

This is the perfect situation for this.A third question would be, "is this his only property, and if not, are the other properties also paid off?". 

So personally, this may be a good time to Refi with this 1 year Prepay and closing costs are not that high.