In many ways that is a ridiculous claim that I would guess a competitor started.

I guess people forget that unemployment a few years ago was 10% nationally.

I'm here on the forum to better understand - how others would navigate a similar scenario.I guess I'm still shopping for the ingredients to determine if there is a 🍞 of bread and if I should even attempt to bake it.

I am guessing you like the numbers you see in Strawberry Mansion and Norristown (Montco not Philly) but do you know for a fact that at those numbers, you can do a full gut rehab and be at a number that will allow you to profit, and along the way make some sizable mistakes especially if this is your first project . . . 

I guess a flat seasonal fee like any insurance policy, sometimes you win, sometimes you lose.

I am guessing they use CoC or some similar metric for this.

I am guessing that the tenant may be short on funds to pay twice for Jan, until reimbursed by the old owner, so would first make your case to the old owner who has the funds you are owed and certainly hope once reminded of that will refund them. 

Seller financing is also quite attractive, though I guess there are few of these kinds of deals available. 

I don’t know the Memphis market, but I’m guessing there is not crazy appreciation.

This is only a guess, take it with a gain of salt.