You can sell it, sometimes it can be transferred to the buyer, but 99% of buyers do not want it so the most common is to pay it off through escrow with the proceeds from the sale, or some variation of that.

Im currently in the South Florida market and curious as to how you guys went about virtually wholesaling in a different market, specifically utilizing boots on the ground. 

I don’t know her money situation but it’s fair to say if she can continue to pay 1,200 in rent and afford to continue to pay the utilities along with iphone car payment and satellite tv then she can pay another 50 a month to uphold her responsibilities in the lease by hiring a local teenager to cut the grass  .

However, the tenants pay all utilities/snow removal/ lawn care.

Plus prepare their country lot, etc with utilities and a foundation for the house.  

It sounds like you own the property as tenants in common. 

Definitely get pre approved before you start looking to buy as you will know what your limitations are, and definitely make a budget based on all your income and expenses now and what they would look like with a mortgage, water bill, utilities to see what works best for you. 

I want to manage the local units myself through my management company (managing is a passion of mine) and utilize a local team for my long distance props. 

If you listen to them regularly, you'll start to hear common themes with knowledge that you can apply for your overall investing strategy.

My original budget for insurance, utilities, rehab, holding all came out to $10,000.