It is certainly a sellers market, and can be very difficult when you are faced with multiple offers and/or bidding wars for the same replacement properties that you are looking at.You can consider marketing and selling your current relinquished property and requiring a contingency that allows you time to find a suitable replacement property.

The reason the 50% rule is brought up is because it guides the bulk of the discussion about which properties are suitable to purchase on the forums.

I can make a purchase agreement with clauses like "subject to attaining suitable financing" and "subject to inspection" (roof, foundation and everything are solid).

You can message me for a sample contract I've used before, but I highly recommend you have an attorney draft one up or at least review it to make sure it is suitable for your deal. 

I assist in finding investors suitable flip or buy and hold properties. 

After she purchased it we discussed with the remaining tenant that this was possible but only after we found a suitable tenant and that he and his roommate were still bound by the original terms of the lease (the rent they were paying is a bit low anyway).

If you don't have a rental, all your expenses before getting one are considered startup expenses and are limited in amount and scope.If you get an entity (most likely an LLC since S and C corporations are not suitable for buy&hold real estate), then you can start deducting all your business expenses - although most likely accumulating deductions till you'll actually have some income to apply the deductions to it.

Renting the rooms is also a suitable option to cover the mortgage.

Is it suitable for other types of tenants?

There are just a few of the questions that I would ask so as to find him a suitable property.