I believe it will take about 30k to rehab this house.

Hard for me to believe Kiyosaki peeps would allow this. 

The median price ARV for this home I believe is 105-130 (I looked at the surrounding homes) and I’m thinking 25-30k (as an estimate, to be on the safe side) in repairs. https://www.trulia.com/p/ma/springfield/16-emily-st-springfield-ma-01109--2000301088Thank you all for your advice! 

Congratulations on restating that point so she REALLY believed you meant it.You're right. 

@Mykhail Bolden  I believe the FHA loan would be the deal killer for trying to wholesale it. 

The situation is this: My Grandfather passed about 20 years ago and left his estate to 4 children, uncle1, uncle2, aunt and my fatherThere are multiple properties/parcels (6 total) in the estate that are co-owned by the 4 siblings, all 4 names on the deeds.Uncle1 defaulted on his personal mortgageLien holder(bank) repo’d his home but home was underwater, and thus still owed beyond the repo.Lien holder found out about the shared/partner assets that uncle1 had with siblings and decided to go after themI'm not clear on the exact process, but I believe the bank will take possession of uncle1 (1/4) share in the partnership properties then will legally force the 4 way partnership to be dissolved through a court proceeding.The other partners or another investor are able to buyout the bank owned (1/4) share at an appraisal price.The appraisal is filed with the court so there are no shenanigans with valuationIf no buyout then the whole property goes to sheriff saleTwo of the parcels are rental income farmland, these are the ones I'd be interested in investing inNobody in my family nor my grandfather are/were farmers, the acreage has always been rented outI’m trying to determine whether I can buy out Uncle's1 share from the lien holder bank at the appraisal price with an IRA LLC and become the 4th partner?

I believe this is stopping the home from being sold.

I do have cash to purchase, but would prefer not to do that (I believe there's some cash out refi options available though similar to the Fannie Mae?).

You could still use a 5% owner occupant loan to buy up to a 4 plex (I believe - mortgage folks correct me if I'm wrong)  with your 1031 as long as the 3 units you rent equaled the value of the property you sell.3.

She believes the house may be in foreclosure but does not know if the house has been foreclosed on (she was not getting her mail forwarded to new address).