For example, now, with interest rates as low as they are it might not be a good choice because when you go to refinance at the end of the initial period you might have a hard time finding as low of a rate as you could today, and thus you would've been better off obtaining a fixed-rate mortgage at today's rates.So, I feel like I don't hear about this type of structuring a lot, and I'm wondering if I'm missing some things that I would only know if I had experience doing it (i.e. how hard it is to refi out of the ARM, or realistic rates during the initial period), or that I'm just not hearing about it now because it's not as appealing giving interest rates today.

@Ryan Baker do you have an idea as to your target neighborhood?

I would pass along Ryan Jone's of Jones Property Law to you as a skilled Real Estate Attorney with a consultative mindset that could be an asset to you here!

If they still are silent then you have no other choice but to go with eviction.

@Ryan Burke why is this a concern for you? 

@Ryan Herting Rich Dad Poor Dad brought me into REI.  

@Jared Ryan Hi Jared.

This may make your choices more clear.1.

If it was an aesthetic choice of the previous owner, it was a costly one.   

In this scenario you would calculate the 2 choices you have:Purchase Price = $180k75% ARV = $150kSo the LOWER of the 2 options would be $150k.