It's a bank-owned property that needs new carpeting, paint and a good cleaning.

A little about me...Bought my first bank owned foreclosure about a year ago and renovated it myself from top to bottom.

I'm actually curious since I have surgeon family members.Passive 8% does sound better than the bank though!  

For example, if, in an 18 hour waking period, you spend 2 hours snooping through the AirBNB, writing down the makes and models of appliances, figuring out the distribution of the mini shampoos and inventorying how many cooking supplies your hosts are providing and the thread count of the sheets, then an auditor might allow you to take 10% of your total trip expenses as a deduction.If, however, in an 18 hour waking period, you spend 6-8 hours per day interviewing Hosts, researching which properties would make good AirBNBs, researching the local laws, touring properties, meeting with an agent and vigorously pursuing your next acquisition, you'd have a MUCH better case for writing off your travel expenses (but probably not your lift tickets and equipment rental).If, on the other hand, you are traveling and on vacation and just hang out in your AirBNB without actually performing any activities, then the odds that an auditor will allow any deduction at all is pretty minimal.In any audit, it would be up to you to document the business purpose of your trip.  

I would do a bank loan with 10% down and 5.5% interest.

This is essentially what banks do.  

It looks like they have failed to make payments since April (we have been paying rent on time, auto-withdrawn from bank account).Ideally:  I'd like to have the loan/trustee waive all fees and interest, potentially lower the asking price ($10,000 discount on a $160,000 outstanding balance of a home that would likely appraise for $185,000) and we'd immediately go through the purchase process as is.Do I need to bring the Trustee into the discussion with the owner at the same time to make this deal go through?

Miller, Haviland Ketter CPA's are the best... and can handle both MO and KS for taxes... professional and won't break the bank . 

I assume the bank needs to pay the amount accrued up until the trustee deed being filed. 

Speaking of good interest rate, it just went up to 4.98% My lender is legit but if I am not wrong, because they're local bank, they do loans only in Maryland but I will share his information with you if you're still interested and I could be wrong.And I truly appreciate your offer to help me and I will happily appreciate your help.