(check was cashed where?)

I'm looking forward to learning from all of you... thanks in advance!

It has a single family & duplex on the same property (duplex is already cash flowing).

Unless these folks are the money managers for a money laundering scheme designed to clean blocks of cash with large denominations and private party placement and don't care about 5% US Bond scrutiny (sovereign wealth comes to mind), my first thought when I saw the 3% interest rate was skepticism.  

You really shouldn't propose anything until you have a conversation and understand what the financial needs or expectations of the seller are in advance.

I'm also open to investing in emerging areas and putting in the effort to develop the property.Thank you in advance for your time and energy.

If they are able to get it turned around and making money (cash flow positive), they then grab another one using a low-down payment loan.

The number one reason rehabs fail is the owner advances too much money to the contractor who uses the money to complete other projects or, go on vacation. 

Thank you in advance!

As well, in order to properly scale I would prefer someone with more proficience here to at least look at what we are doing and spitball a few suggestions.Thanks so much in advance and apologies if I haven't found a prior relevant answer in the forums I believe I have checked though.