I think you'll fin that a one man shop will be tough to do to stay up with compliance, next year you won't be able to collect you own note on a residential deal.

Typical 1/1, but in her bedroom I saw 2 spots she has a bucket collecting water leaks and the ceiling sheetrock is stained.

Collected rent minus expenses (minus interest if you have a mortgage) equals cash.

If you don't have the money to lend, then you need to find the money for somebody, you must streamline that process to a lender and collect a commission on the job, which may or may not be legal collecting money if not a licensed realtor or lender.

They run for miles and collect alot of groundwater.

Just stick to methods that are proven to work/collective advice from more experienced investors and you should be okay.

They go after anything and everything in pursuit of the deficiency, hoping to either foreclose or collect any overages from future sheriff sales.

Will you be able to collect at least that much for this property?

I am thinking we can sell it for $28k w/ 2-4k down and create a second position note for $10k (either P&I or Int Only) We could also assign outright and collect a $4-6k fee, but I think we could do the above options and profit more down the road.

The scenario becomes much stronger if you can collect your full rent as listed above.