Under bidding, poor quality, not following timelines - those will all kill your project.

Also remember just because a loan may qualify as being assumable the lender will go through a thorough underwriting process to confirm you meet eligibility for the loan.I have seen a guru teaching people with poor credit to go after these types of loans and it’s unfortunate as many would most likely not qualify.

In this case the current financials on the property aren't great(rents well below market value and the owners family living in several of the suites) so the lenders will likely not provide the funding based on poor NOI.  

someone with poor credit and very little money is not going to be able to rehab the home to a point that they can refinance it.. they will quit before that happens or just live in it under those conditions..

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Very poor RE selling market here. 60 homes on market.

This points to poor management and/or marketing. 

Extending lease might be best bet.    

So Real estate is the best bet? 

My bet on the next twist is the death turning out not to be natural causes.