I also think the humility of some of the key folks on this site, also help drive the confidence bus. 

This would give you the knowledge and confidence in case you would ever have to go to court.A lot of these questions depend on whats in your lease and your state laws. 

Good point, Dave Foster about the actual timing of the payment.

Not that everyone has the same goals, some might be willing to accept close to even or no return or are confident they can keep the maintenance and capital investment #s low... as long as they're going to get that long term equity pay down... rental market will always be strong here.I did just notice an a 1%ish rule in a foreclosed andover small multi family, but with as-is foreclosed not always being so straight forward there's more work with the condition of the property, getting the prior-owner out if they're still occupying, and possible surprise liens.

@Dave Foster would be the guy to ask- he's from your area as well

Don't know how but confident it won't be pretty for most people.2.

defining this criteria here will allow you to make confident, yet conservative decisions.

I am confident that I can get financing for the rehab.

If the law firm went out of business and/or lost the deed (or as happened one time, a paralegal mistakenly shredded a deed that had not yet been recorded) and the sellers failed to or refused to or couldn't cooperate when the CFD was paid in full, I'm quite confident the cost of cleaning up the mess in the courts (at least in today's dollars) would highly likely in my state be $3000 or less (yes, there are circumstances when this number could be higher but they are highly unlikely and still would almost certainly allow the deal to be profitable).  

Some things I think it is best to leave up to the pros but I think the more you do the more confidence you will have to take on other projects in your renovation which will save you money and help you have an overall understanding how all that stuff works.