Obviously the title doesn't change hands, and I do not believe there is any equitable interest in such a scenario (which also means one cannot market the property).

It's intriguing but I believe you run the risk of the original bank calling the loan. 

I’m estimating 220k sale price per unit, but if we wait until the rest of the development is built up then could be more like 250-300 per unit.It’s speculative, But I love what I believe the development will be eventually with a mix of old and new homes, a state park, and the water.I just can’t decide how much risk to take.

However, it is on the grass between the curb and sidewalk which i believe is technically government property.  

The oil burst up onto the walls and ceiling leaving a residue covering a large area.

I believe I’m leaning towards property management.

need $100k + closing costs to purchase Property B$2.4M debt $4M assets =  60% LTVI think 60% LTV is plenty and any higher I believe is over leveraging.

When you have multiple buyers that confirm a market value there seems to be an appraiser judgement to lower value and honestly I don't believe appraiser should adjust in this circumstance.

I do not believe she has tried any remedies of her own.   

I do believe that investors do play an important role in rehabbing properties that have sat vacant for some time.