Check out your market otherwise if it is clean and descent looking stay with your original plan.

I know that the Zillow estimate isn't going to be 100% correct, but based on what the first floor looked like, the sales price of other two flats in the area and my own knowledge of the area, I now feel like we should have either offered quite a bit less or walked away.

I also recommend looking for a property manager that can run the property for you - at least for a year or two - until you have more knowledge/experience and can take it on yourself.

Very knowledgeable and a great resource.

There may be some programs allowing title to stay in the name of the LLC, but will probably be more expensive (up front or over time).2. b) Financing in your name has a value that, based on your post, was not negotiated before hand. 

That could be a great way to find and stay engaged with local investors and opportunities. http://www.biggerpockets.com/alertsYou can also search for other investors in that area and follow their journey on Bigger Pockets here: https://www.biggerpockets.com/search/usersAlso, be sure to get plugged into the podcast - it's been a wealth of education and a huge confidence builder as me and my husband have pursued REI and built our portfolio.

He will use every possible tactic the courts allow to drag it out as long as possible to stay rent free if he is a professional tenant.

That could be a great way to find and stay engaged with local investors and opportunities. http://www.biggerpockets.com/alertsYou can also search for other investors in that area and follow their journey on Bigger Pockets here: https://www.biggerpockets.com/search/usersFinally, if you haven't already plugged into the Bigger Pockets podcast, I can't recommend it highly enough - it's been a wealth of education and a huge confidence builder as me and my husband have pursued REI and built our portfolio.Best of luck to you and look forward to following your journey!

They have always paid on time and want to stay there for another two years with a new lease option and hopefully qualify by then.

The neighbors got to stay and the HOA got to essentially "keep" the money.