There are a couple ways to accomplish what you want to do.You should consult your tax advisor to see which method works out to be most advantageous to your individual situation.I would like to give you a more precise answer, but with taxes every individual has different circumstances.Hope this helps.Ed

Any specific methods that you've used  to do the calculations?

I have been comparing the vast amount of hard money and crowd funding providers for a townhouse that I am interested in purchasing using the BRRR method.

Just my opinion, I've avoided numerous legal evictions and have been through the process after a judgment a few times. 9 out of 10 times you'll never see a penny.Again, my experience is to avoid eviction and the 2nd scenario sounds like opportunity to do just that.

I am currently starting out getting involved in the real estate world. I am seeking funding and one option I have is I currently live in a reversed-mortgaged family members home. I plan to purchase the home from them,...

The advantages of local are numerous and the disadvantages of far away are numerous.

You can hold title as: Joint tenants, Tenants in Common, Tenants in Business Partnership or as Community Property with the Rights of Survivorship.I am not sure about easier qualification for loans dependent upon the method of holding title. 

I was unaware such methods exist to reclaim a foreclosed property in general.

It happens all the time, so there's a steady stream of opportunities independent of general market conditions You can take a very methodical approach to Value Investing, where you regularly invest a particular amount (or just spread a large sum over many months) in a small number of pre-screened stocks, with the goal of holding for 1-2 years and selling at a profit, using the proceeds to repeat the process.

Using the assignment method requires you to pay two realty transfer tax.