I just avoid the whole issue all together. 

You will have to go through probate with an attorney to transfer title, unless property is in a trust, or if property is appraised under 150K, at the date of death, you can do a terms of succession, which is usually a few months instead of a whole probate process and if there are multiple heirs it gets tricky.

You need to see what their whole criminal history is.

If I could Airbnb this place, it would be a whole different conversation and I'd be more confident. 

Then your 3.5% down payment is based on your purchase price plus your renovation budget (the whole budget including the fees listed above).  

An investor in many other markets might have to own and manage 5X-10X as many properties/tenants to achieve the same equity over time, which is why investors in those areas are much more focused on cash flow.If you have been searching for a while, you probably know whether this purchase is a good deal in your market based on the other opportunities you have analyzed. 

Our whole strategy is to go for the B+ A- group by making a nice apartment in this area that is changing over.

Couple of key points that really separate the 203k from other products include: - ability to finance up to 6 months of mortgage payments while the renovation is being completed if the whole is listed as uninhabitable by the HUD consultant. 

If they doesn't have a bank account, then you're dealing with a whole different problem... they might find buying a property challenging if they don't have money sitting somewhere. 

Hello Everyone,I am Maurice and I am excited to be here with you all to learn as well as to assist in order for us all to achieve our goals!