There are a lot of sexy terms people throw around when they talk about real estate investors, but in the end success comes down to two simple things:  grit & character. 

I’m planning for an upscale open house and want to market it to the audience looking to purchase in this market.

Yours was perfect, I simply added some more clarity for the audience because those little details like the lease option are pretty key in doing calculations, as I showed.And you're right, I did want to know where people were able to find cash out refi opportunities. 

I personally snag the keys and go throw it on a lockbox and forward the PM the information to get it rented.

As long as the government keeps the printing presses on, then people will have more dollars to throw at investments.

Is it a better decision to sit on the property and possibly delegate management to my father to lower costs (he is a handy man and can oversee the property while making any minor repairs) or sell the property with intentions of throwing that profit into another property to avoid capital gains tax.

Is it a better decision to sit on the property and possibly delegate management to my father to lower costs (he is a handy man and can oversee the property while making any minor repairs) or sell the property with intentions of throwing that profit into another property to avoid capital gains tax.

(A variation of this, assuming you can buy the note, is to have the property quit claimed to a throw-away business entity with liens attached, and then foreclose, which avoids complications with the current owner.)  

I have grown to become more patient with the process and understanding that anything can throw out a deal, even with a signed purchase agreement in hand, or even after due diligence. 

Throw some rock down and put in Storage Containers for storage.