If you can’t restructure the note let the attorneys handle the foreclosure assuming all your dads paperwork is in order. 

Your taxes are not correct .. restructure this deal and this may actually Pan out to be a good deal if you could buy it with all  cash and not put 30 grand into it or hope to brrr it .

Can you move all of this real estate into an LLC later on and "restructure" when you own it free and clear ? 

However, there are sometimes ways to find things that can be done to increase rents like restructuring a 2/1 into a 3/1 if there is room. 3/1s rent out for considerably more than 2 bedrooms.

I did not use an agent to place this offer, I ordinarily would but my one man entity broker is currently unavailable.5. all cash deal6. fix and flip deal, I will be gutting the property, down to studs for rehabMy comments:In reference to #2 I will be restructuring the deal to address this for multiple reasons, 1 is I am interested in getting rid of the tenants as soon as possible, 2 is don't want any lingering "due outs" after closing and possession of the property.

What happened was the homeowner went through and restructured the home without pulling permits or notifying the county, is this a deal breaker?

I am primarily wholesaling right now and am restructuring my business and want to be able to grow and add more people when the volume grows.

I do think you need to restructure to ensure your bills are being covered - because if this property is causing stress and no active benefit than taking the cash and running is the right answer.

You can foreclose, do a deed-in-lieu, restructured the loan, etc. 

Rentals generate the other kind of income, passive, which cannot be used to fund retirement plans.So first, you will have to restructure your setup to "manufacture" active income.