Also appraisals or BPOs would be requested by a buyer when they are making an offer, so I would suggest not doing it ahead of time, unless Maryland law requires it (again something any Maryland Realtor should know).

I would suggest that you read the full regulations and anticipate that they city will be enforcing everything.  

Do you suggest working through a Real Estate Specific CPA or have you ever looked into the Wealth Strategist CPA's such as ProVision or FinanceCAPE?

@Jamarr Lee If you're going to do well in this business I would suggest eliminating the guesswork when looking at properties.

Any suggestions on how I can restructure this deal and really make this work, I really want his home he's moving out of state and wants it gone.

You could try it but i'd suggest your "Plan B" include having the funds to pay off the entire note before the lender forecloses.

Any suggestions?

We would suggest constant communication and review of budget status as you go along- weekly at minimum.  

Any other suggestions or concerns to deal with should I decide to try and work with the current tenants. rates are $1000 and $900 each.

Thanks for the suggestion.