I would guess that you will be at $2000 a year or so.

You can always add them to title and then they can refinance it into thier name in 6 month and take cash out at that time as well.If the home has equity take advantage of it while rate are now dropping fast as of this week.

Would anyone have any recs on location banks, credit unions, etc that would look at a deal like this?

I purchased this older home last year ($120k), which appraised at $186k before closing.

Current Mortgage: $75k, Appraised at $160k 4 months ago.

Knowing that you'll have a good amount of eyes on the property at your ARV of $3.5M, I think you would be able to get it sold in a decent amount of time and save some holding costs. 

Oftentimes, a direct line to the owner is the biggest challenge.I'd be prepared to make an offer on the spot BUT I'd also be prepared to take things 1 step at a time.

Possible, yes, but you'll be looking at $5k-$6k in lender fees plus title fees, prepaids and escrows and a higher rate. $75k is a little easier to find and slightly lower rates/fees. 

I am currently at Real.

You avoid a double close - many lenders now require you to have own good funds to close - meaning you need "flash cash" to close which cost you money, and I don't suggest a trust, as many lenders will balk at a contract with a trust as a buyer - you will lose money by never getting deals in the first place.use the LLC - costs a couple bucks up front, but you get more deals signed and it avoids the costs of flash cash, AND if you want a business process that works every time - that is the way to do it.Michael Jake