I don't know your area, but from a quick macro glance I've noticed a couple concerning topics.

Hi I found a home that is in per foreclosure process how do I go about writing a letter to the owner offering a Subject to Existing Finance can someone post a sample letter/template, and a letter to contact the owner and Mortgage Company I want the home  deeded to me , I live in Brooklyn NY Thank you for your help concerning this very important and urgent matter.

 @Andre' Arceneaux Hi Andre', I'm a dividend pig as well but concerned that I'm not diversified enough.

You need a lease that addresses your concerns in your favor.Its your place and you can tell them No.

If I remember right, he was investing less than $10,000 into a mobile and would make at least $40,000 when he sold it. 

It also has me concerned that the sell off will affect potential appraisal of the property I'm looking at since he is selling several duplexes at around the same price as the subject property.  

It's done all the time in the institutional world.In your case, you have in-place debt that you are not looking to pay off, so the biggest concern here is lender consent for the recap.  

One of the concerns I had when looking at out of state investing in areas with potential for higher vacancies is the associated cost of getting the unit turned over.

I would only be concerned about his debt if he were missing payments.

This is a big security concern for small children.Do your bathrooms have showers or tubs?