I have been doing some light digging and wondering about this question:Is it possible to "know" (or have a reasonably good idea) of exactly what you could get at the end of a BRRRR for a 5-6 unit property?I know that ...

:(Has the property gone through probate or actually been transferred from your parents' names to you and your siblings?

Many lenders require that but you may do a transfer after closing if your lender allows that. 

We know we most likely need to take title in our own names for mortgage purposes, but then want to transfer the property out of our names to protect us financially.We can transfer into an LLC or a trust.

It doesn't have to be a home run, but it needs to be a reliable double. 

Hard Money will look out for you by looking out for themselves and provided extra checks and balances in due diligence.The other advantage of Hard Money is the reliability and availability.

That would cost me $25K and the building would have a reliable, maintenance free heating system that offers thermostats in each unit.

The owner is elderly and wanted me to transfer it to my name before anything happened to him. 

I'm not an attorney - just sharing what has been explained to me.As to transferring the interest in the Note and Deed of Trust that is normally done with an Assignment to the Deed of Trust (which is recorded) and an endorsement/allonge (not recorded) to the Promissory Note from the holder (in this case their 50% interest) to you. 

Transferring in as a Junior after doing Running Start.