Again, this was under the assumption that the seller had any funds to do this.

If you take the self-management approach, there are definitely some tools that can help with managing things moving forward but my natural assumption is that no matter how easy the on-boarding is, tenants will probably still want some sort of hand-holding through that change management process.

With the modeling, we can put in assumptions and duration and model with a percentage likelihood what your score would be. 

That way:your SDIRA is made wholethere s no prohibited transaction between you and your SDIRAthe borrower doesn't benefit from his failed flip but loses only his investment and can't refuse to come up with additional payoff moneyyou get ownership of the house for a total investment of a) the original SDIRA loan amount plus b) whatever discounted price you had paid to the 1st lien holder.You could then either sell it yourself or hold it for rental and sell at a better timeThis is, of course, based on many assumptions that may not be true, not the least of which is your capacity to buy the note. 

A divorce can arbitrate the obligations between the spouses but the spouses will need to act further with the Mortgagee to create formal changes to the note by assumption or release.  

He acquired the property via tax deed cert.I need some help on my proforma assumptions.

I always recommend using best-case, worst-case and in-between set of assumptions to decide in you can accept an investment that performs somewhere within that range.Shorter answer: Income capitalization and IRR are different, but both are important.

I have my own assumptions, but it's time to engage with a professional that can give me a more solid advisory report. 

Don't make any assumptions about any work done without permits.

Ok people, I am going to pull back the PM curtain in hopes to dispel some of these ridiculous assumptions and misconceptions.