You will require a regular foreclosure just like any bank loan. 

Just seeing if anyone in San Antonio would like to start a regular get together (once a month) to talk about real estate and investing?

You can transfer it back to the llc and hopefully it won't trigger the due on sale clause.

(this is the only thing we need to negotiate - EQUITY)I will send the seller a contract of sale (and a copy to you) - I always use my "Skinny Contract Offer" at a price we both agreed to -  Your job will be to get comps - look at the property - make an inspection and determine that the offer I make is at a price where we can make a reasonable equity profit.

When you sell the property owned by LLC A  you then buy the property owned by LLC B in a regular exchange.  

The property is not listed for sale right now but I'd like to approach him with a fair offer that positions me well to capitalize on the value added through additional  units.

There probably aren't that many investor buyers in Spearville and the installment sale would spread the income tax burden for the seller.

It appears to be on a reservation because the Bureau of Indian Affairs is involved, @John D. and it also appears that that it may be a contract for deed (land contract, installment sale contract) where the seller received full payment over time, but never transferred the ownership to the buyer even though it was fully paid by the end of the contract. 

I'm currently in software sales, but have a background in construction (my father was a small builder for 40+ years).  

Her dad would be able to lend us the money and split the profits after the sale of the home.