Usually applicants will pay the fee for a background check, but in this occasion should I waive the fee for the inherited tenant? 

When someone is ready to sell, they will find a wholesaler who picks up the phone.On the rare occasion I do talk to a wholesaler, I just ask to be added to their buyers list.

It is not filled out, just blank.

Ask if they will let you have a blank purchase contract.  

Start by reading Brian Burke's "The Hands Off Investor" from BP, and then take some kind of online course or mentorship (there are multiple providers of these--Michael Blank, Rod Khleif, Joe Fairless, Jake and Gino).

Let them know that you truly do have the best intentions and you want their house to be sold for a fair price, but more importantly you want to help them with " fill in the blank" .This will create long lasting business relationships.

If you know just one or a few strategies, then the left side of the formula is nothing more than fill in the blank. 

Look up Milwaukee Legal Blanks - they have all the forms you need.

If your investor just wants a straight up return and to be hands-off - then simple interest return at (fill in the blank) interest rate will be great for them.

Lately, most appraisals have been coming in slightly over sales price, but I've had a few come in a bit under, and on rare occasion, a few come in way under value.