Before placing the bid, I reviewed a credit report that showed fairly bad credit, but a lengthy history.

For month to month people you do not even need to go through a lengthy eviction process you simply tell them you no longer with to rent to them period.

I'd assume underwriting needs a way to document the growth in household...I only say this because of the lengthy explanations I had to write about a transaction.

This is essentially a 203K loan, except the bank and yourself don't have to jump through all the paperwork to follow the lengthy process of using a 203K loan.Talk to small local banks in your area and ask about conventional loans with the rehab budget tacked on.

Both units are now rented as of late August after quite a lengthy search, which I was surprised by given the hot summer season.

@Robert Vorhies Its a lengthy explanation. 

I don't like the idea of sitting around for a few more years (or even months) and not buying something in an area I want to work/live in for the long-haul, but if waiting is truly my best option then I'll have to come to terms with it.Sorry for the lengthy first post here, but I'm hoping I can get a few opinions here.

Most insurance companies have a list that is quite lengthy of dogs they prohibit. 

So yes - that would be an option as it would allow them to avoid the lengthy and can be costly foreclosure process. 

I believe the answer would take a lengthy post.