If you can spend 250-325k, you should think MTR, not STR, because that is more likely to scale in any area because of all of the different types of renters for MTR compared to STR, which is more location-based and amenities-driven.

Yes, he could do a purchase contract prior to viewing but I would never ask a client to do this because I wouldn't be comfortable with it myself.  

If you have I’d love to hear your feedback.What other programs out there would you say are comparable?

Does BP have any tools that could help me to make sure that I am staying on top of everything prior to the closing table? 

What is the market value of a bed room and a bathroom  for the purpose of Comparative market analysis. 

You could probably do a NPV analysis on that compared to the price of installing a water softener up front.

I’ve been following much of the research you suggested, like inspecting the property and assessing comparable homes in the area.

I would use the Find a Lender tab on here to reach out to a few lenders and compare. 

Has anyone had the prior owner come back during the quiet title process and try to reclaim the property?

It's not really a benefit to be confusing.What they want to do is have the property transferred into a trust (days, hours, minutes) prior to settlement.