You could show the appraisal to the seller and ask for an amendment to the purchase and sale contract lowering the price to $45,000.  

You will amend the LLC with a form from your state to remove you and your partner as the principle managers, and then amend again with a form from your state to add your buy/investor as the new principle managers to the LLC. 

The HOA is amendable to subdividing into 1 acre lots and there are surrounding electric poles with an available water district.

Add on the amendments and the page count goes up!

I spoke to her this morning and said that we will wait to collect until the 3rd and create a written lease amendment that will make her future payments due on the 3rd.

You will need to have the seller and buyer sign off on this amendment to contract.

The contingency is not removed before the repairs are done and we wanted the release before they started repairs.The mold problem would be very stressful and I really want to get out.I know they agreed to the repair amendment but we did not do anything wrong to them, and I don't see why I have to pay for the problems they have.Thank you for your advice.

Do I factor that into my initial offer or just make sure their is an inspection contingency that would allow me to amend the offer once it's looked at by a professional?

E's, copies of lease agreements/amendments/exhibits, property operating data...these should at least give you an idea if it's worth pursuing further.

I would review your contract with the PM company, ask questions about their process in dealing with late rent, and then hold their feet to the fire, or if necessary demand an amendment to the contract.I think it's bad that they keep the late fee - you're the one that has to cover the mortgage, but that's another issue.