Your offer to purchase should include a requirement that they provide all documentation and agree to sign an estoppel certificate (also called estoppel form or agreement).

@Sam Grooms we usually include a certain percentage for construction contingencies for these kinds of situations, but that’s certainly a case by case basis based on the severity of the repairs.

There's about a 99% chance that mortgage contains the standard verbiage around acceleration, if the property ownership is transferred. 

I understand that you can include the assignment fee in the principle price in a contract but when can a profitable buy high assignment fee be a problem for a seller or end buyer?

I originally was looking for the mythical 'structurally sound but killer deal because it has some broken windows and  hasn't been remodeled since the 1940s' type of place, but I've since lowered my standards to include properties with major foundation issues and the like.

That did include ins and tax prepaids and recordng fees, closing fees that they do not control but still....Its not worth it to me to pay 10k on a 80k, especially with as little as I was going to make on the deal. 

(Before the auction)Location: Bayou City Event Center 9401 Knight Road, Houston, TX 77045The Harris County Engineering Department and City of Houston Floodplain Management Office will be offering a short presentation to assist bidders in understanding potential issues with sites located within the floodplain.If you are unsure of the potential challenges that go along with purchasing property in the floodplain, come to this informative session to get answers.The presentation will be followed by a Question and Answer period.Topics include: How to Determine the Floodplain Status of a PropertyWhat Jurisdiction the Property Lies WithinFloodplain Management Rules for Unincorporated Harris County

I'm not as familiar with the calculator, so I don't know if that includes debt / P&I payments.

Including some pretty sweet free Excel calculators. 

Cr = CreditUnder Asset:Dr Building $500KUnder Liability:Cr Note Payable $200KCr Owner's Equity $300K (this includes the original $200K you paid during acquisition and the $100K you paid on the note)You'll just pay the note regularly but with the LLC's name and checking account.