On some of the units, the bottom layer of flooring had vinyl tile with traces of asbestos and in many of them the mastic had asbestos. 

If possible visit the property before hand to check out the lay of the land as it were.

If you're in contact with the owner/seller directly, and you don't feel there is a lot of competition (off-market), might as well start with an LOI to lay out terms before drafting a contract.If you need the offer to look compelling because other buyers are circling, a PSA would indicate more motivation on your part.

These are a list of my lessons and challenges along the way:*Pay someone to rip up the tile in a house!

I understand your dilemma and let me lay down a few points here that will help you decide amongst the two.

I could have granite, SS appliances, tile baths and floors, etc, you are not getting more with cash.  

Prop tax's some of the lowest the country very low insurance stucco houses tile roofs and desert landscaping all lead to ease of maintenance over time compared to FLA which of course has all sorts of weather related issues that is detrimental to houses .. high prop tax and sky high insurance ( certain areas) But its also growing.. so there is that.

My go-to-flooring was tile, but now luxury vinyl.  8.  

Analogize to how a federal law can lay out a process for protecting or enforcing a Constitutional right but can't change the right.  

There is no place that is just laying around waiting for people to waltz in and lazily do near to nothing and pickup ANY property at ANY price, ANY means and just, cash-fat-checks......