The only way is that if I take it subject to the potential debt and the title company cant issue title insurance with the note being released.  

@Lakevia Ingram It will definitely teach you all of the legalities and protocols for SC.

It's all situational.No legal advice given. 

We don't have any debt except that we're paying a car loan that it's not accruing any interests.

You mention not wanting to "feed the lawyers"- let's talk about the dietary requirements of the legal system.

Legally, can I unilaterally cancel/rescind the lease prior to the lease commencement date?

Some people consider a loan from the bank using "other people's money" or a credit card advances as "other people's money" but really it's your debt that you owe, interest you will pay, etc.  

This agreement maintains our right to pursue the borrower's personal guarantee and requires a scheduled payment of the full principal balance and legal expenses.

One-time Expenses$1000 - Acquisition Costs (minor rehab, legal, & inspection)Annualized Expenses10% Gross Annual Rent - Vacancy Costs (turnover & lost rent)10% Gross Annual Rent - Property Mgmt (standard)$1176 - Repairs & CapEx ($1 per sq foot for tpical property)$1516.46 - Property Taxes (5 year historical average for typical property + 10%)$1000 - Property Insurance (a nice round number: seller reported that he paid $708/mo for one duplex)$27 - Water & Sewer (average across several properties from last month)$0 - Gas, Electric, HOA, Snow Removal (tenant pays or not applicable)$60 - Lawn Care (I made this number up)COMPARATIVE ANALYSIS:This is my analysis of the five properties that are being negotiated right now, listed from best to worst.Property Alpha (two-flat)$1250 - Income, Monthly (actual)$567.37 - Expenses, Monthly (estimated)$42,000 - Price, Signed Contract36% - Cap Rate (Annualized Income / Price)16.6% - ROI, After Tax (annually, assuming 15% income tax)6.0 Yrs - Until this property pays itself offProperty Bravo (two-flat)$1100 - Income, Monthly (actual)$537.37 - Expenses, Monthly (estimated)$42,500 - Price, Signed Contract31% - Cap Rate (Annualized Income / Price)13.1% - ROI, After Tax (annually, assuming 15% income tax)7.6 Yrs - Until this property pays itself offProperty Charlie (duplex)$1075 - Income, Monthly (actual)$532.37 - Expenses, Monthly (estimated)$55,000 - Price, Informal Discussion23% - Cap Rate (Annualized Income / Price)10.7% - ROI, After Tax (annually, assuming 15% income tax)10.3 Yrs - Until this property pays itself offProperty Delta (SFR)$875 - Income, Monthly (actual)$492.37 - Expenses, Monthly (estimated)$48,000 - Price, Informal Discussion22% - Cap Rate (Annualized Income / Price)8.8% - ROI, After Tax (annually, assuming 15% income tax)13.6 Yrs - Until this property pays itself offProperty Echo (SFR)$770 - Income, Monthly (actual)$471.37 - Expenses, Monthly (estimated)$62,500 - Price, Informal Discussion15% - Cap Rate (Annualized Income / Price)4.1% - ROI, After Tax (annually, assuming 15% income tax)24.4 Yrs - Until this property pays itself offNotice how the price keeps going up?

Please let me know if you see anything I have overlooked.Sale Price: $400kDeduct closing costs and Agent fees: $35kDeduct Rehab Costs: $50kDeduct Debts (property taxes, lis pendens...): $30kDeduct Holding costs (cost to keep the home until it is sold which includes utilities, property taxes, insurance etc): $2,250= Revenue after all debt paid : $282,750So my dad will get all his money back, my aunt will get roughly $250k and I will get $28k.