Many disabilities would preclude someone from being in the military and/or a 1st responder position.I won't even pretend to know how something like this would usually play out. 

Fortunately for me the bank eventually listened to reason.I do not consider myself a subject matter expert nor do I pretend to know all the best ways to solve these problems.

However, you can pretend you don't know any better and just tell them they have to sign a new lease since you are the new owner.

Here's a couple things: Next time, a good way to get rent comps is to pretend you are an appraiser doing an appraisal for a park in a nearby town/city.

Though I had a guy lay out a rooms worth of ungrouted/unthinset tile once when I was out of town to pretend he finished the floor to get a $$ draw from my husband.

You start to really see who is for real and who is pretending. 

So if we pretend the above could happen... how much should I expect to lose at the purchase, and how much at the sale? 

I am no lending expert nor do I pretend to be one, with that said, typically conventional loans are used to fund investment properties.  

Because if you pay cash for something, and need to pay it back, you want to buy it cheap enough where you can get a "cash out refinance" on the property after you fixed it up.Let's pretend your numbers are real.If ARV is $600,000 and you generally follow the 70% rule, you multiple 600,000 by .70 and get $420,000. 

There are scammers who will break in and pretend to rent it to someone.