After that, I'd refinance and either rent it out or sell/1031 to get into my next property after that that will hopefully cashflow, or I'd rinse and repeat since I have one small rehab under my belt at that point. 

if I did a drug, criminal, credit check on you, is there anything I should know?

So he's going to sell the 2 acre lot which would net hopefully about $160-170 after fees.Firstly, do we have to make the current one an ADU? 

A 13 is what will cancel a foreclosure IF the borrower completes it, which takes 3-5 years or, court approval for shorter period.I agree most end up not going to foreclosure sale but, my experience is they don't' because they sell before sale or otherwise reinstate.

just selling a product (that I had no interest in).Any help is greatly appreciated!

You also really need to be a with a good real estate agent who knows these objections you are trying to fulfill upfront, and not just an agent who wants to sell you a property.

You can not likely leverage that with debt, however you can sell a percentage of the Option for cash and use that as a down payment if you need too.Have You suggested taking over the sellers new cash out refinance loan subject to at some point? 

Did you acquire residential or other investment property in Santa Cruz County prior to July 1st, 2023, and are now contemplating selling it?

Interestingly, they've recently negotiated a re-purchase price with us IF we bring new funding to the table.The rehab is required for several reasons: (a) correct the damage the bank has allowed to happen to the property improvements these past few years (known problems include completely destroyed pool makeover; wild animals living inside the residence; flooring missing in sections of the rec center building; destruction of the decorative main entry gate mechanism; lots of dead landscaping; as well as latent defects not known to us such as working plumbing, HVAC & water services) AND (b) expansion & upgrading of the accommodations (converting the private residence to a 2-story lodge with the restaurant/bar, reception/check-in, movie room, public restrooms, gym/sauna/steam room/massage therapy room; enlarged pool & deck area with climate-controlled cover for year round use; conversion of former restaurant/bar building to a general store selling venue collectibles & wearables, selected pre-packaged foods, sundries, RV & camping items, bagged ice & a propane refill station; construction of a free-standing event center; free-standing cabins; enlarged & upgraded RV park with its own small restroom/coin-op laundry building; outdoor activity areas; new landscaping & fencing; new parking area & entry drives (personal car & RVs).We know our target audience having created and operated the former version of this resort for almost years creating an initial membership base numbering about 1,100. 

If I put 20-25k into this house and sell it for 525 I would walk with around 170k pre tax.