That changes is if you are going to stay in your house and work out of there.  

how would the transfer of names on the note workout in this situation?

If these don't work out then I may just keep it for myself. 

I've looked at buying it in a traditional sense, but it's definitely out of my price range and she's asking too much for it, BUT I recently started wondering if there was a way I could work out a deal with her to potentially fix it up/get it rented for her potentially taking on the burden of the property taxes as long as she let's me keep the rent????

It might work out, but myself and every other reputable company wont touch these type of jobs because the pay is not even close to the worth. 

Being an expert in an area will help you take the guess work out of your offers and enable you to identify deals quickly. 

If I can get it at that I think the numbers can work out for me.

The podcasts are packed with a lot of valuable information and I like that I can listen to them while I'm driving between appointments or getting a workout in.  

You should put them at a licensed servicer, performing or not, unless it's a couple, then you or them can do workouts in compliance with Dodd/Frank among dozens of other laws.They all stink to a certain degree, we love Peak Loan servicing the best & pm me for an introduction if you are a business & not an individual.

I would try to market it and test it in one metro area or region and work out the kinks to see if and how it can scale.....