"property is owed by group of investors I am only hired to manage it". that rule will save you a lot of pain down the road. if they are not comfortable with that ...NEXT

Here are the specs:3bd/2ba 1792 sq ft.2013 Tax value - $116,3002012 Tax value - $132,000 (we had a big devaluation in TV county-wide between 2012-2013 that has not really affected market values)She says she owes around $95,000, and I'm guessing ARV is around $125,000-$130,000I realize there's not much equity, but currently looking for buy-and-hold properties.

Hi Ty,You've got to be very careful there aren't 1st lien positions on the properties, in most cases there are and you could wind up buying a HOA lien for cheap and then owing far more than that.  

It has 5 years back taxes owed on it. 

Right now I'm a small investor with just my principal residence and 1 rental property.

My research indicates the owner owes around 100K and the property is worth conservatively about 125K in good condition.  

The best person to ask would be your principal broker.  

When I received a letter from his attorney stating that I owed him money or they would file a mechanics lien, I had my attorney tell them that if he doesn't back off I would go after him criminally and use the neighbor as a witness.  

Either way, it's her responsibility to get the rent to you, so if it's not in by the end of the week, she still owes you the rent plus late fees.

I assume your name (or a business where you are a member/principal) is listed as 'buyer', along with an explicit right to assign the contract.The 'easy' way to assign the contract is to have a one page document stating that for some consideration, the 'buyer' transfers/assigns the contract to a new 'buyer'.