If you are buying all cash demand a large discount for a fast close with no contingencies.

Back then there was no distress and growth was moving outward at a rapid pace and rents were increasing from demand. A

First, I didn't demand a performance guarantee in the listing contract.

While prices have risen in the last few years, I do still see properties listed that look interesting.With regards to market selection, that will really depend on what it is you are looking for with regards to entry price of property, location (jobs & demand) as well as ease of management.Best of luck,John

I can absolutely demand a tenant be removed prior to closing.

Is there a way to legally separate that or demand a separation? 

The property was built in 2005 and is located in Azle, TX, where duplexes are in high demand as there is a shortage of rental property in this area.

If the seller is savvy enough to demand a $5k EMD, my guess is they're savvy enough to not give their house away cheap enough for you and/or your end buyer to make a profit. 

If you put it in the lease and demand a copy of the DEC page before they move in you will get it done.  

There are other neighboring markets that are very much in demand as well, with less competition.The greater Phoenix area is still a great choice for long term rentals.