Value-Add/Forced equity appreciation play analysis.  

If auctions fail to get them the price they want, they are forced to buy back the property and then list it on the MLS with an agent.If it's a bank owned property, the MLS data will say so.

Long delays can force a lender to order a second appraisal to ensure the value of the property.

Second, I don't understand how one can "force 10% appreciation" under the circumstances described.  

We then plan to move out in a year and Airbnb all three, which for the area should be very lucrative.In the long run, we could remodel and force appreciation, fingers crossed and sell.

You could get some bills paid off and then do some buy and holds or at the least force some equity for a buy and hold.

One of the most successful buy and hold investors I know started buying multis with my hard money financing, fixing up and stabilizing, and then refinancing conventional after he had forced appreciation with the improvements and tenants. 

Newtons law - Objects in motion stay in motion and objects at rest stay at rest unless acted up on by another force.

The ways to make $ in RE are:1)Cash flow (and this changes over time, day one cash flow does not equal year 10 cash flow)2)Appreciaton (both market and forced)3)Mortgage paydown (through amortization)4)Tax benefitsIf you are not considering ALL of these things and you are not considering them over the ENTIRE LIFETIME of the investment, then you are NOT running ALL of the numbers and are likely missing some very important details.

Guy knew what he was doing though.At any rate it's unlikely you can force the guy to dress when someone is coming over.