They will sell below market and lose more money, then the new owner will jack up the rents.

I just renewed my SAM.gov status and am seeking to apply to some of the listed leasing bids, but wanted to understand more on whether it's common to acquire them as tenants through subleasing, informing the owner & getting authority to lease, or I'd have to own the commercial/residential property out-right?

Other investors such as many which I have represented prefer an established neighborhood where I can tell them how many, and which homes are owner occupied vs. not as a neighborhood with more owner occupied homes means less competition for rental homes.

(One of the nice things about Westminster is that they're one of the few Denver-area cities to allow non-owner occupied short-terms, so you could give that a try to boost your revenues.Also, my standard advice for first time investors is to not overthink it.

Or are you trying to buy the property as an owner occupied primary residence while living in another state? 

One owner could take all the money while the other owner keeps the remaining home. 

Instead of diving straight into business, I'd chat with property owners about their goals and challenges.

I'm not a lawyer, no legal advice, but if it says "in accordance with terms provided by Owner," and it's not in accordance with terms you provided them, then I'd think you shouldn't have to accept it. 

I’ve seen many clients and property owners ignore this small detail, but it’s important.

Now its a different owner and since you don't have an insurable interest your policy may be null and void --- ask the Title company.