Whether the numbers work to pay you and your investors a sufficient return is the real question.

Is their reference sufficient?

I would not recommend investing without sufficient cash reserves. 

The Seller did not have sufficient cash to pay back taxes and pay closing costs.  4. 

Notice pleading is not sufficient, there are specific things that have to be in that complaint for the court to have jurisdiction.

question 2is this something we can draw up ourselves in a sufficient way for closing--the note and the mortgage?

If you have sufficient equity to pay off the HELOC and have a nice chunk left over then you've increased your purchasing power and only raised your monthly debt obligations a little, or perhaps you even lowered it when you factor in the HELOC payment.

The property doesn't pass the FHA Self Sufficiency Test.

Lenders want to know that they will get their money back, so the more prepared you are and the more that you can prove to them that you will still have a sufficient income after you seperate the higher your chances of being approved.

This metric helps answer the question if the return on capital invested in the project is sufficient to overcome a project’s initial cost.This is beneficial to look at in development deals and value-add acquisitions.The formula:NOI / Total Project CostWhat’s a good Y.O.C.?