There are several unknowns here, but those are your options.  

I would buy property at a live auction, pay for it cash on the spot, and live with any undiscovered liens and unknown costs as they were sold as-is where-is.

I know there are unknowns.  

My approach to the game is to make offers 'sight unseen' for simplicity and speed purposes; keeping the old phrase "When you rehab a home, theirs always unknowns" in mind and just making my offers based on rough estimates.

It might be nice if such cases could demonstrate the value, but that's unlikely because you have an unknown, unknown as an alternative.

@Mohit Madaan there are lots of unknowns in your scenario to be able to give a definitive answer but the basic fundamentals of property investing might help get you started.

You're losing money.Add the inevitable unknown problems....? 

This agreement would give you funds (the amount of the SD) to cover your unknown liability of re-renting.

No need for a price, you aren't selling, you are leasing and a FROR can be at any price, she has the right to match or beat any offer received, the sale price is unknown. 

@Ali Boone, would recommend at least choosing an area I am familiar with via previously living there, or would you look for a totally unknown market that has the great potential for profit?