Dear group members, Please advise what are the best ways to sell the real estate owned by bank. 

The lease would last 5 years and his downside protection would be if the lease was not executed, I would owe him a fee of $75,000.Getting the rents up to market would be a monthly increase of $3,675, which would result in a valuation increase of $550,000 using my banks' CAP rate. 

Bank may want to take for less, IRS lien needs to be paid off not sure about interest part.

Many local, community banks and credit unions don't care about seasoning. 

@Katherine Linza  Yes, as Michele mentioned, typically banks will use the lower of the appraisal OR purchase price. 

The House is in an estate and want to do a cash transaction to avoid the bank hoops, not that there would be many but they don't want to come out of pocket for b.s. repairs.

Zillow estimate = $250kRents = ~1200 per unit = 2400Owner owes bank about $150k - Can i negotiate with the bank?

You hear about people who get started in RE/business without money of their own, a bank, etc.

You end up waiting awhile (around 6 months) for the bank to approve the sale.

Bob -  you might  contact  the smaller to mid size local banks in your area  as they might be able to work  with your scenario …..do you have a primary residence ?