Just be aware of several things.  1st we are late in the growth stage of many/most of the cash flowing markets; 2nd turnkey will be meaning you are buying at retail prices and need to expect to hold on to that property for at least 10 years; 3rd: the success you have will greatly depend on the quality of the team you work with, and particularly the property management; 4th: choose wisely and vet thoroughly - which I think should include a visit to the market and to meet the team and see the neighborhoods they invest in and the quality of their rehabs; 5th: don't be taken in by what look like better numbers on lower priced properties - these rarely work out well. 

I’m pretty sure it’s going to work out for you.

I have heard of HOA doing this and renting to get their HOA fees back then either have you foreclose on HOA or work out a cash for keys situation.

They can work out a deal w the county?

How did taking the previous to court work out? 

Any clarification on how this would work out would be helpful.

If the seller wants to do the deal then you should be able to work out reasonable terms on their 25%. 

Maybe two years would give you enough time to be able to go through a traditional bank if owner financing doesn't work out. 

It would be worth you time to do a rent study to determine average rents, if utilities are typically included or not, and how those numbers work out.

Try to have another plan of action if it didn't work out in certain time limit. 2 Start contacting other experience investor if possible in your area to help out.3.