They also wanted us to pay their closing costs and cover a 1yr home warranty, which was supposed to tally at $4500.They were also very aggressive on wanting us to accept literally within an hour or two, as my agent didn't call us until later that evening, or the deal would be off.  

It's tenant occupied and not immediately accessible and we're deciding if we should accept a counter offer they gave us as a credit instead of repair. 

The seller accepted and now the waiting game begins.

If he accepts I will have the option to buy contract set up by the end of the week with a 30 day term locked in.

If the property sustains uninsured damage, the buyer may lose incentive to pay, ask you to accept less money, or even abandon the property, again leading to foreclosure.

I am looking for something I can do part time and looking at Buy and Hold deals is acceptable.  

Bleeding heart will make you feel sad for that first person too if you deny them...Once they accept, let the 2nd person know the prior application was approved and since you didnt process her application you are refunding the application fee. 

A question I have is that if the purchase contract you use with the seller says "Seller agrees that the buyer 'me' may place signs and show the property immediately upon acceptance of this contract by both parties

The investor accepts responsibility for curing the property and unburdening the owner.

. $1.9 million is still owed but a deal has been worked out with the bank and they have agreed to accept less.