I wouldn't even bother asking you for paystubs, because we aren't going to consider what you claim you make ($1.2/month), nor are we going to consider your stated YTD earnings (unless it indicates declining income).Ballpark, so as not to bore you with too much minutiae: We're going to look at what you told the IRS you made when you filed your taxes, and do a 2 year average (1 yr if most recent year shows declining income).

For example, if you think your investment options in the plan are going to decline in value over the time the loan is outstanding, the interest (even if double taxed) could be a good way to increase the money going into the plan.

i.e. metro area, unemployment, job diversity, housing stats, flood plain, is the immediate location in decline/stagnant/on the rise, etc.Next, since you have all POHs here, you need to get some comps on what the market lot rent is.  

I am also wary that the landlord is a family friend, and I don't particularly want to sour relations, in the event that I decline and the sale doesn't close.Any advice would be appreciated.

Aside from that, you can call the bank and make an offer on it, they can either accept or decline based on what it is worth.  

But luckily I declined knowing there had to be better options, which lead me here!

The appraisal came back stating that the expected time from market to sell in this area of Dallas is 3 to 6 months and that values are declining.  

As the rate of job growth declines (deceleration; jobs growing at a slower rate), the rate of RE price appreciation slows.

I have also looked at Eastern PA (East Stroudsburg, Scranton, Wilkes-Barre) where prices are more affordable and cash flow numbers look better, but I am concerned about the economy, declining population, and vacancy rates. 

So one day, he called 911 and said "if you don't come, something bad is about to go down".And a Sergeant was despatched.The Sergeant, bless his soul, took one look at the property, took photos with his phone, asked for access to the property which was declined by the neighbor, posted a Deputy on the gate, and went and got a search order.