It seems that there is an underlying assumption that owners will be willing to speak with you if you put an offer price in the letter.

By the 'hold', my assumption is you're referring to a deposit?

I wouldn't consider them money pits but you do need to adjust your assumptions accordingly. 

These monies, plus the dp is what the tenant can take to the bank, or lender, to qualify for a loan, which they would then complete the sale at the end of the lease.You want to flush this possibility out before considering any assumptions. 

If your numbers/assumptions are even close to right I can't see why it wouldn't be fundable?

If you are not buying for call cash then you need some assumptions for interest on a short-term loan (i.e. hard money) or the loan on the purchase, 2) The "post refinance" expenses are higher than the rental income, so you have negative monthly cash flow.

Ideally I'd be looking at a multi-family with 3-4 units, that's rentable as-is, but has DIY-able improvements left on the table(i.e. don't want to be on the receiving end of somebody's flip).My assumptions are as follows:1.) at a glance, properties look like they're definitely cash flowing in southeast SLC.

I was under the assumption that when you use a SDIRA to fund a rental property, the cash has to go back in to that investment account.

Is this based solely on the president and the assumption that someone else will take the helm?

I realize it is unlikely that they will, but you're making alot if assumptions when they could work with you on a resolution that isn't unfavorable.Give them their referrence, and then wait.