@Rachel L. if you're planning on flipping it rather than holding, that changes your dynamics entirely. 6Br is still a big house and 1 Ba is not sufficient for a 6Br house.

I think this about the 67th time that I recall someone posting this scenario on BP.If you can't access your local county probate records online to sufficiently determine if the owner(s) of record have an open probate, you'll need to physically go to the court or pay someone else to do this for you.

If it is a property you want, and it has sufficient equity, then offer to buy an assignment of the junior liens.   

I put it up for lease with nothing but a sign and an asking rent sufficient enough to give me a 22.5% cap.

Those two contingencies should be sufficient to get you out of a deal if you find something unacceptable.I'll push back just a tiny bit, Bryan, and point out I did mention the principle payment made matters worse.

I also insure that my properties are energy efficient by insuring that there is sufficient insulation, good windows and good seals around the doors/windows.

And there are so many state specific laws that my contract in California would need to be read and approved by an attorney in another state.As for deposit and sufficiency I like a 100.00When presenting a deal to an investor, if it is accepted, what assignment contract do you use?

Oh I forgot to mention that the rental income from my first floor tenant was sufficient to cover my mortgage, so with a tenant taking the 2nd floor that money was almost all profit coming in.

What software or tools do you recommend or simple Excel should be sufficient for a simple close analysis... should I get BP tools and rehab Valuator or something else?

You should analyse the property as if all units are rented (with an appropriate vacancy allowance for the market) and ensure the business can provide a rate of return that meets your objectives.If the {M}IRR of the business is sufficient, then you look at the personal advantages of residing in the least profitable unit.