While I realize this is the only skin in the game required in exchange for them financing 100% property and repair.My fear is that I’m not comfortable with not knowing ahead of time If They will qualify my deal-or if the $3k will be lost is I don’t get qualified To move forward.

Its not hard, and I can't give you mine. so many ahead of you are willing to overpay, and like any investment, I set my price and if I don't get it, I am ok, because I didn't lose anything.

@John Lee and @Alex Moglia It seems as I am only potentially a few weeks "ahead" of you in my real estate career.

I have sceen and known about people who can cross the busiest high speed highways without getting creamed by a fast moving vehicle but just because there are others that do it does not mean I am going to try it. 

If there isn’t any significant damage or concerns I like to look at the length of life I have with certain items; water heater, appliances, things like that just to plan ahead.

If you have a unique question or scenario, or you have something that requires and salty REI's input then this type of forum is great for that.At this point, without knowing more about your level of experience, you appear best suited to find a mentor or partner who has a year or two of experience, you want a mentor that is not too far ahead of you in the endeavor.

They paid 6 month rent ahead time, now 6 month passed and they cant make payment. 

What I mean by "prepare" is trying to get the right people involved and learn anything ahead of time that may help me as I go through this process for the first time.

Is this going to be a big headache if I was going ahead with the purchase? 

Or did you go ahead and pull your own comps to come up with an arv?