Help Please
Since you will not have to wait for 5 day cancellation for Short Sale:
You need to resolve the 3rd concern which is - how do you plan to complete this deal (assign it, close it or better yet flip it).
Since you don't have the funds to close and carry a negative, I would probably try to assign it to someone else who can, with the expectations of the house value increasing in the future. I don't think there is enough dollars to accomplish a flip.
Another Option would be find a Partner who would be willing to come in with funds for a % of profits (have a written partnership agreement).
I would present her with a Offer to Purchase with the contingency that her husband sign the Quit Claim within ? (your comfort level, mine would be three days) days of acceptance. Make sure you have weasel clauses in the Offer to Purchase.
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