All other rooms and mold types were non-detect or below outside air levels. 

The offer sounds tempting since  the group has to finance about 3M$ (the rest comes from a bank with a low interest) and the building is bought about 1.5M below value, so when we sell we should expect a 50% return when selling which should be 3 years from now.The thing that bugs me is the way the building value was evaluated, i am copying a section from the presentation:"Market activity has shown similar properties consistently trading in the 4.75-5.25% cap range (refer to “Comparables” slide for specifics).

Let's say all the banks that I talk to aren't willing to go below 7% with me (let's pretend I've gone around and looked really hard).

If you increase rent to market and they move as opposed to charging below market and they move in the future what is your net loss. $100 + per month till thy leave.

When we do flips (which is rare) we price below market to get rid of holding costs as soon as possible.  

If you can't get a good relationship going with the Seller, then the chances are going to be low. 

Below is an article that I thought covered some most of the bases, but I have no way of knowing if it is good advice or not since I have not done it.  

The GIS maps (can't find the plat on file) show that the parcel boundaries according to tax map and the parcel boundaries map appear to be fully in the clear for the driveway, house and 2 car garage shown below.

Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meetSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

I would say that 0% OO is far below the 50% OO minimum, so your (or your buyer's) chance of financing via a Fannie Mae loan is 0%.