This remodel will run my bank account dry, or very close to it.

@Jose Manuel Castro  You're afraid to pull the trigger.  

We tore up the floor immediately and dried everything, even the flooring survived.

Have been spending the last few months sharpening my knowledge and skills to best arm myself for when I pull the trigger on a property.

This is pretty cut and dry if its what you say it is.

I'm not sure if she owns the house free-and-clear.My pitch was gonna be this:$10,000 down payment$1500/mo for 20 years I'd pay all closing costs Offer the prop mgr 1 year of fees (~$2650) to assist the tenant in the transactionThis works out to basically a $370K sale price, or the equivalent of $402K if she were having to pay regular agent/closing costs.Benefits to the owner would be:Her cashflow immediately improves by about $450/moShe gets an unexpected $10K bump - a nice kicker, but not enough to trigger a big tax eventShe no longer has to worry about or pay for taxes, insurance, property management, maintenance, wear-and-tear, bad renters, etc.The transaction is hassle-free - no inspection, appraisal, or bank loan that can fall through ... she'd just receive some papers via FedEx, sign them, and we're doneThe property - her former family home - would go to someone who truly loves it and would care for it well Downsides for her would be loss of future appreciation and rent increases; and maybe she has plans to leave it to someone in her family.What do you think of this offer?

It gets triggered when you are adding square footage to a new space, e.g. renovating a basement or even just adding a bathroom to a basement can trigger it.

Most of the time, tenants don't even bother going to their eviction court hearing for pretty "cut and dry" cases of non-payment.Once you've filed for an eviction, it might work to contact them again with something like "Hey, look. 

On a best case scenario all you'll need to do is keep the basement unfinished (this means no drywall of any kind down there) and use dry lock paint with a dehumidifier.

I am going to dig into the Zillow stuff and little more before I pull the trigger.