Explain the situation and offer to pay 1/2 of the expense.

You are no where near being in a position to put in offers. 

Not following the requirements (within Seattle city limits will likely have additional rules and regulations) opens the seller up to liability.Additionally, the seller always has the option of offering "cash for keys" arrangement but be sure that no funds change hands until after the property is vacated and locks are changed.John

What plan did the tenant offer for paying?

I am not spending $40k on their next step, but this looked like a good investment ($1500 and a money back offer).

I guess the next step would be to find lenders in my area that offer these types of loans.

After my beginning I started using my cash to make outright offers then financing back out of them later, usually 6-12 months down the road.

Branson’s ongoing development also offers strong potential for appreciation.

Every system you try will have flaws, or you may salivate over a feature that appears in other software.Some familiar names are mentioned frequently: Stessa, Apartments.com, RentRedi, TenantCloud, Innago, RentManager, Avail, Rentec Direct, Doorloop, etc.I recommend conducting thorough research on each app online to understand their offerings, pricing, etc.

The key is having a solid plan for securing funds before you even make an offer—so you’re ready to pull the trigger when the right deal comes up.