Here's the official description: Section 203(k) insurance enables homebuyers and homeowners to finance both the purchase (or refinancing) of a house and the cost of its rehabilitation through a single mortgage or to finance the rehabilitation of their existing home."

If there is an existing mortgage on the house, who is responsible for it?

It would be nice to find a way to do this, but I understand cost and liability always come into play with the business atmosphere we exist in today.  

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When the existing tenant moved out there were some scratches in the hardwood floors, some light, some medium, and a possible gouge.

Many agents are attracted to Keller Williams however there are many other great firms in your area.Although I've been a broker for 25 years, I never use to acquire or sell my own properties.You'd do well to decide if you wish to represent retain sellers or work with PRO's like investors and lenders.

What exists is prior case law (precedent) where housing court judges are actively throwing out eviction cases when an attorney is not representing the LLC in court.

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The owner found out that the ratio of profit to work involved is going to be much smaller, or non-existent, than he thought, and has lost interest in the property.3.

My idea was that down the line I would demolish the existing house and build a MFR since it's zone for that.