Though, you may have a difficult time keeping them maintained for the long term.

Fairly straightforward process like a conventional application.

I also do a fair amount of wholesaling outside of the MLS. 

Are contracts fairly easy to understand?

If I have to offer this solution to my landlords who does not want to maintain their properties but still want to minimize the capital  taxes, how do I offer them in a simple 3 or 4 executable steps.. so that they can consider the relevance of this solution to their situation.

Just talk with a title company and it is a pretty easy process and fairly inexpensive.

@Fradel Schaechter I actually sleep a fair amount on weekends but I stay up extradorinarily late.  

As far as exit strategy, again assuming your numbers are fairly accurate, I'd lean to wholesaling as-is if you can get anywhere close to what you would get post rehab. 

@Cindy ChanIf your mother gifts it to you - your basis in the property is the lower of her basis or fair market value at time of transfer.Ex. she brought it for $100,000 10 years agoit is now worth $90,000Your basis if she transferred the property to you would be $90,000 + the cost of any repairs you made.If the basis did go down - I would prolly see if she can sell you the property.

Flying off the handle can get you in trouble.For example, not renting to those in the military is against federal fair housing laws.