The assumption that I make good money is wrong. 

Before I give my answer I'm making the following assumptions- Your credit is decent, you have stabe income and make decent money; your debt to income ratio is relatively low. 

We accepted the higher rate because the lender agreed to allow assumption after 2 years with no qualifying, at the same rate and terms (20 year loan).  

If information is limited, use market-based assumptions to run a "worst-case" analysis.

I approached them and told them our plan to convert the space (assumptive sale style) and offered to renew their lease and lock them in for the same rate for 18 months at the same time.

The assumptions made when analyzing investments should be transparent as well.

Quote from @Eli Ling: thank you, what do you think of this email:I understand your concern about the ceiling leak and your assumption that it might be coming from my apartment.Since we both want to resolve this issue, I suggest contacting the HOA to involve a neutral third party who can determine the actual source of the leak.

Of course, many investors bend/break this rule, but that's another risk.2) If your bid wins the foreclosure auction, you then have to deal with getting rid of any occupants - who may steal/damage everything they can in retaliation:(3) You MUST have a great crew on the ground that can minimize surprises - not easy to do on your first deal.Regardless if you buy a foreclosure or other property, read our copy & paste advice below:-----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

@Erich OertelRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Not sure whether you're referring to a VA purchase or assumption.