At 75% LTV I could reduce my cash left in the deal. 

.- I come along and offer to do a Lease-Option Purchase @ $67K, taking over the monthly payments, handling the rehab and paying for it myself.

@Padric Lynch  Yes, ideally have the title company handles it all in one transaction. 

I would say 9-11%...more for warzones and less for areas like trolley square.It’s a c class neighborhood so I’m comfortable with 10%, though the rental market is pretty strong, I could probably reduce that.

This is how I would structure this deal Shequila:Offer price: $65kDP: 20% [$13k]Seller carry paper: $52kLoan term: balance amortized over 15 year at 5% interest Exit: Balloon Payment at Year 10 [Seller might counter this, so use as a negotiation element (reduce to, say, 5 years)]Monthly payment to Seller: $411.  

Payed an arm and a leg in taxes this year (I know not a bad problem to have) and want to reduce the cost next year.

My brother will end up handling it!

The numbers may be great but you need to understand the headache factor involved for you if self manage or how much it would cost you for a property manager to handle.  

At this point we've been reduced to just calling police for noise complaints when other tenants let us know but I'm not sure if there is anything else I can do shy of aggressively demanding the other owner get his tenants under control.

How will this be handled?’