PSA on buying a flip: Pay attention to the quality of the finishes, if they are hurried and incomplete(which I see all the time) MOVE ON as it speaks to their build quality.

I offered to speak with the couple (who we know fairly well) but he said that would give him away for sure.

You coming here, admitting your current shortcomings, and looking for a way to improve your situation speaks volumes about both your character and work ethic.  

Btw: I get all kinds of letter re my property and 99% of the time, the content tell's me almost immediately, the sender has no idea of that which they speak - - so make a meaning, accurate letter if you expect replies.

Generally speaking, the only lien you mentioned that will be superior is taxes.

Also, could you speak a little about the financing?

I'd love to speak with you about this!

I am just down the street in Mission Viejo if you want me to give you my professional opinion (no charge.)Anyways, when you are done with this project if your "friend" would like to continue to invest in real estate, I would be interested in speaking with him/her.Good investing...

@Bill HamiltonGenerally speaking in the prices below about $400,000 there is so much demand that people will not discount the property based on condition more than the cost of doing the updating if it's livable.

From the people I have been speaking to (currently living in the area) I have been told to avoid Oxnard like the plague and some parts of port hueneme.