For background, this is a stable, performing property with a plan to buy and hold for as long as makes sense.

This lets you keep the property and avoid taxes (if you were to sell instead).Why sell a performing asset? 

Seriously, it's horrific, the negative performance numbers are giant becomes screaming "run away, run away". 

@Ryan ChimonAsk for a cost break down of what he will be doing... like what he will be checking w the city, doing what task, hours covered, materials included, and what else?

At this point, an entity I created purchased the non-performing note from a private lender who originated the note.Because the borrower wasn't required to make monthly payments, we had to wait until the note maturity date to start the foreclosure process.

I think I could refi the remaining 2 buildings as well.Is separating a house like this possible, could there be zoning issues, is it a relatively simple task? 

I think I could refi the remaining 2 buildings as well.Is separating a house like this possible, could there be zoning issues, is it a relatively simple task?

I'm definitely not going to play the GC or take on any of that liability or time commitment, I'm more so looking to know the right people for the task who themselves carry licenses and liability insurance.

As Amish Tolia said you were light on some stuff but conservative on others and overall if it’s in good shape has a chance to perform nicely, especially if you included the debt service from the HELOC.If stuff at these numbers is attractive to owner occupants as opposed to just investors then exit is much easier (and more profitable) and you have a few thousand in pay down to include in your overall return.

I have a few thousand scrubbed numbers to get through and dialing by hand adds a lot of time to the task.