That being said, I do appreciate your feedback and help with this analysis.

I would say do some sort of Break-Even analysis so you can visually see what it takes, how long it will take, and what is required for you to not only replace the lost income and benefits but surpass that level. 

@Ray Dryjanski "your underwriting" is your analysis of income, expenses, etc on the property that support your offer price. 

DM me with details of what you need done.

So it's time to start going out and meeting people, and doing some of the analysis that the books suggest. 

After I'm done with that I spend another 2+ hours a day putting together photos and a full property analysis so that people out of town are able to see the property in its entirety. 

Keep listening to the podcasts.I am actually curious if you could go into more details on the company taking over the loan payments... i ask because i myself have a rental in my own name, once was primary residence, rented out for a period of time and now that im becoming educated on investing in real estate i want to place in an LLC... still learning all the ropes here.. 

@Wayne Brooks I heard that there is a tax lien unit within the IRS and I'm considering contacting them to get details.

The investment banker mentioned that the tenant can/will take over paying the mortgage, but I don't really know the details yet and what is best - for me and the prospective renter/buyer.If we don't do this rent-to-own deal, I can get a tenant in within one month. 

Unfortunately I made all the mistakes of not having a new contractor sign a detailed contract and we gave him draws before verifying work was actually completed.