@Emery Regis All of these responses thus far have hit the nail on the head.

For example, when testing out noise levels, I can hear my dog's footsteps walking above me (because of his nails touching on the floor) but I can't hear voices or the tv in the main house...so definitely ask around to find the right material!

Thank you for providing capital preservation stage accredited investors an alternative savings option.Will we know the fund balance or be made aware when it is approaching $1.5M?

The "heirs" contacted WF Probate and Preservation department and stated they wanted to offer a settlement / short sale on the property.   

To me, it seems like all nail heads should be underneath the other shingles that overlap. 

Since the estate has an attorney, my experience says they will act to preserve the asset and equity.

The cap rate of 6.75% is really what puts the nail in the coffin for me with this opportunity -- it's just not realistic to look for a cap rate that low with a lease-back investment.Your advice really helped me realize how futile this venture would be, and I really appreciate that.

You obviously don't know that 2nd part even if you nailed your ARV perfect.Just based on what you listed for repairs and the house specs and the fact it is an REO (So you will have a lot more stuff that COULD come up that is hard to see until someone gets all the utilities on and start using stuff in the house again) I would budget a bare minimum of $20K for the stuff you are doing, and that is going to be pretty low if there is much past what you listed.

She may want to speak to a estate planner or elder law adviser to see if she can protect or preserve the asset.

This was well beyond preservation expenses.