If the seller objects to the EMD staying soft, he may not be a DMF seller after all and is just looking to swallow your deposit money. 

Could I go out, buy paint, rollers, drop cloths, tape, brushes and find some old clothes to paint a showcase house with just a couple extra runs, a few extra soft spots and some not quite as good lines as a pro in about 215% of the time?

Worst thing that happens is you get another "no" and another opportunity to practice the soft skills and learn.Cheers

I'm from restaurants and that segment is soft and has been for a while.

Does Southern Title & Abstract provide a soft tile search or an Ownership and encumbrance report?

You need to figure out how much you can reasonably expect to pay to build 2 structures, buy the land, develop the property, hire the architects / engineers, pay for permits and any other soft costs associated with your area.

When you throw in soft costs like zoning approval, building plans and permits and land you get another $100/sqft.

I would say substantial would be doing a remodel, upgrading electric, replacing roof, doing soft-story, repainting the building.  

RESIDENT SHALL PRACTICE GOOD HOUSEKEEPING TO PREVENT INFESTATION.Avoid using secondhand or rental furnishings, especially beds, mattresses and any soft furniture.

On the other end, the market for commercial is very soft.