I would go a step further and say there is a Thought-Cancer in US Society today that people feel there not only entitled to affordability, but that it's focused to and for THERE "affordability".

In some areas certain provisions MUST be included in a lease.  

For legal, we can provide you a list of attorneys out there who do this and my recommendation is to interview them to see which one you feel works best for you.

The overall LTV (including all 3 mortgages) will be key and your selling point will need to be that the 2nd mortgage ($8k) will burn off in 2.5 years (based on your surprise that it was even out there, I'd recommend that you follow up in 2.5 years and ensure that it's been satisified, so that it doesn't surprise you again in the future).Does the $8k grant vest over the 5 years? 

Hi Shruti,That sounds like my type of REI investing, feel free to add me to your Network would love to talk shop some time or help in any way.

I feel that should definitely get you the most interested parties seeing it and therefore obtain the highest and best offer terms. 

I feel like marking up repairs is paying twice.

I would much rather deal with someone like him who knows what they are doing and speaks the truth rather than someone who spews out a bunch of feel good crap just to get your money then disappears..

I guess my problem with being too up front about seeing their place is that I don't feel like I'm in a position of power right now to decline people since it's hard enough to find people that I want to even get to that point in the application process in the first place, but I have to snap out of that mindset and have to instead come from a place where I make them believe that I have a lot of other applicants and that it's my standard policy and it's something they'll have to go through if they want my place.....ESPECIALLY if I decide to only take 1st & security from them rather than 1st/last/security.Thanks again!

If you want please feel free to add me to your Network would love to be part of the team and I am always happy to help and offer advice or tips on my side of the finance part of things!