So, low ball estimates for repairs are around $25000.00.

Or maybe he's just not really interested in playing ball.

Don't let anybody convince you otherwise.You will make a ton more money if you can keep all the balls juggling in the air with what potentially for some, maybe not you, but for some as the past has shown is a house of cards.

First thing I check is if HOA has insurance policy..the rest is easy. what you are talking about is buying foreclosure off MLS. what I am talking about is buying on judicial sale - totally different ball game. 

Even if I don't partner with her due to her illness, I want get the ball rolling by using my honeywell stock.

Here in FL, they record all notices and you can get a ball park figure. 

I put the ball in their court to tell me how much they want.  

You got the ball rolling. 

You might want to consider partnering up with someone to help get the ball rolling assuming you don't have industry experience.  

But, to be clear...a "subrogation agreement" doesn't make sense...I think maybe he is confused, and/or this is some odd ball technique being advocated by someone.