It will not require any more work than I am comfortable handling.

The Homestyle program could be a fall back if you can get the seller comfortable with the idea.

However if you haven't done enough deals to feel comfortable with the process then @Leigh C 's idea makes a lot of sense. 

I say, do whatever makes you comfortable.  

They have now prepared a stipulated judgement order for us to sign and return back; in the order, they are asking the court to register a judgement against us; we are not comfortable with this.

Given that, I was comfortable extending to a month-to-month lease and the ensuing vacancy.

I think if you need the cash flow right away, then go with the best of the worst.However, if you can financially support the vacancies, then I agree with others in that you are better off leaving it vacant and hope to find someone you are comfortable renting out to as opposed to someone who will give you problems all the time.

Sine you are you and you own the LLC, you are comfortable (or should be) with the lineage of ownership and the potential of claims that may arise.  

One of my partners is an experienced general contractor and is very comfortable renovating a partially burnt home. 

I have chosen to focus on the buy and hold strategy as I tend to think that it is a secure low risk way to build wealth over time and something I think I would be comfortable with.