What is the complete role of the bank? 

Since it is in a C- neighborhood someone wants to take on the role she just quickly unload it.If one is flipping he needs to a fair roi on the time spent.

His/her role is administrating the estate.

The type of agreement/contract the seller has with the agent obviously plays a role but the clause would be clearly spelled out in the agreement. 

What role do you envision playing in the ongoing activities of the investment?

You have some assumptions that I disagree on..first yeah someone might be hesitant to let you get their property under contract but thinking differently about it, your role is also problem solver.

The moral of the story is know when and where to exercise your authority.

Even if you’re not going through that exercise would be a good training experience for you.

-Are rents justifying the increase or is there a variable factor playing a significant role that I have yet to distinguish?

It was mostly a disappointment for many reasons but what it doesn't touch on is, when collecting a deposit from a  tenant buyer, what happens when they decide to exercise the option?