(Someone you can sue) And if you have to, have them have a co-signer, then do. 

The dilemma is that I received a call today from the executor stating that the tenant has secured a co-signer and qualifies for a mortgage now (he got his butt in gear when he found out they had accepted a purchase agreement).

You can look into the possibility of a co signer (maybe your parents, a family member, but be careful with those partnerships!).

A biggener looking to buy and hold/rent a co-op or condo in New Jersey close to Middlesex county

it sounds like you are asking whether or not you need a co if you are closing on the purchase.

Some Questions:Is it advisable to draw up a lease where the tenant requires a co-signer and if the co-signer meets all of your qualifications?

As there are a lot of risks involved with our current business, we are looking to diversify by investing in real estate we can rent out.A friend of ours mentioned to us a co-worker was looking to sell a 3 unit for about $120k.

What if I added a co-signer, do you think that would help?

OK, they supposedly have a co-signer.

I was talking to a co-worker about it, and as it turns out, her husband is a brand new real estate agent.It kind of scared me at first, as I am a newbie too, so it could be disastrous. but the guy has been working his tail off for the last week working with me to narrow down my search results for a house, talking almost daily, knowing that the funds aren't in place yet, and I won't be able to do a deal for another couple month.