They informed me that a series of steps have to be taken in order to purchase this property which they called “steps for assignment process”.One of those steps was to send a certified letter to the daughter (the Personal Representative of the estate) stating my intentions of buying the property and paying off the taxes.

Actually, I calculate everything very conservatively, and I only pursue something if I think I can get it below market value.

They will take the higher income with this step. 

@Emma Powell I have a duplex rental that I started to pursue a HELOC on.

Should I pursue the deal or run away?

-Who decides what renovations to pursue?

That will determine the next step.

With Time and Effort, most things can be accomplished, happy to witness your first steps on the road to real estate success! 

Next step down would be your local banks portfolio products which are usually modelled after Fannie/Freddie, but are willing to make some concessions if you are strong enough. 

I did leave my W2 job to pursue real estate full-time; however, I transitioned to being a 1099 contractor and pursuing ventures that I truly enjoy doing, so maybe a hybrid model?