If the house is actually valued at $500k why would the owners want to sell it for $300k?

I would like to buy the property from the owner but don't want to offer a bad deal and in the process anger/offend the landlord.

In order to set one up you need to be a small business owner or have legitimate self-employment activity. 

The previous owner paid for the heat and was wondering if anyone else came across this situation and what should I do about it?

Oh, and this month we  are having a one of the owners/ lawyer of Common Wealth Trust Services speak about setting up Land Trusts to do your real estate investing.Have a blessed Day!

Moreover, when private or specialty lenders do for example business-purpose loans on non-owner occupied property certain disclosures and documents aren't required.

There is a lot of "shared space" in multis and those costs tend to fall on the owners rather than the tenants.Feel free to send me a message if you have any questions.

I've looked at my county's CAD and found a name of the owner. 

Do you intend to tell the owner you will walk if you cannot assign?

The owner has paid so far $70,000 on his mortgage(bought the property for $105,000) but due to personal reason he hasn't been able to make last few months mortgages, in total he is $5,000 behind.