He talked about eating better and getting healthy enough to walk around the block to get some exercise.

Pointing out that you could exercise the option to execute the estate's coverage of the lease, however you really don't want to do that and if you can mutually (always in writing, even on friendly terms) agree to another, lesser timeframe it's probably beneficial for both sides.

We' re looking to exercise the option and get financing at 75% LTV fully owner occupied so we can purchase the building and put some cash in reserves. 

I do not know if I could get a property right now if I found one, so while I get those ducks in a row, this is for exercise.

Main Concerns:Am I buying before a pandemic-induced housing market crash - aka at inflated prices?

Main Concerns:Am I buying before a pandemic-induced housing market crash - aka at inflated prices?

I thought about getting a studio apartment (but the monthly payment difference would be $300-400 month) and I feel like renting a studio would have higher turnover + more difficulty to sell later on.Main Concerns:Am I buying before a pandemic-induced housing market crash - aka at inflated prices?

Ask for owner financing, even if for only 18 months to give you time to add the kitchen and refinance.Explain why you need it to the seller.You could also do a lease option and install the kitchen and then exercise the option.Tell the seller the problem and see what they suggest to solve the problem.

However, if a prior phase II indicates that the indoor air quality violates carcinogenic risk standards, there is no need to perform another phase II before exercising your right to terminate the contract.

First, if you put a property under contract when you don't have both the intent and ability (funds) to close on it subjects you to charges of "Fraud in the Inducement" (a tort).