If you said yes, and benefited, you owe him.

You just need to use/transfer at least as much as the sale price and the loan amount (or was it principal). 

The only two we didn't purchase were those that owed 5 times the value of the land in taxes. 

Probably, but if you are evicting a tenant they likely owe you rent and the amount of the rent will exceed that of the deposit.

The DSCR ratio is calculated by taking net operating income (monthly amount shown on your lease or on the 1007 page of the appraisal)  and dividing it by total debt service (monthly principal, interest, taxes, insurance, and HOA if applicable of the property). 

We properly recorded the assumption between us and the other individual, and the lender and other individual recorded a notice of consent to loan assumption.I don't see any assignment language in the document.The note states that we "promise to pay to {owner, husband and wife, as tenants in common} (information on principal sum, interest, and currency), at the office of {address} or at such place as the legal holder hereof may designate in writing"To me, it reads as if they can change the address in writing, but not who we are paying.Later, it states that we shall pay "principal and interest payments of {amount} on the 5th day of each month to the office listed above, and, at the election of both {husband and wife}, or the survivor of them, if not called sooner, which election shall be made in writing, in one lump sum payment of principal and accumulated interest on {date in future}."

You have yo pay PITI, principal, Interest, taxes, insurance.

When you close, all the money you owe is tallied up, you give it to the title company, then it is all distributed to the appropriate parties.

We are trying to use the calculators, but having trouble figuring how to factor in the fact that our house cost $229,000 when purchased, we now owe $180,000, and the value is now $350,000 or so. 

You don't want to pay Principal and interest if you are having to take units out up front to rehab with no income coming in.E.