You nailed my question right on the head.

I understand your frustration (and share it, I have two simple residential refinances that are approaching 60 days in underwriting...it's maddening).But if you want the bank's money, lose the attitude and wrap your head around the fact that you have to play by the bank's rules. 

If you TRULY want to help an under privileged person, get race & color out of your head because that very notion IS racist!

I think that whichever option you choose you are still heading in the right direction.

Local law doesnt require me to give this much of a heads up as tenants are currently month to month.

I can wrap my head around the options for financing and potential moves from there.

There are many other questions as well that aren't on the top of my head.

The head of house hold (father), the mother and the daughter.

Since then I've read so many books and forums, listened to so many podcasts and webinars, it can make a guy's head spin with all the options out there. 

Then if Clyde and Marie Tenant decide to stack some weighty things on the shelf, it's less likely to come tumbling down on little Maurice's head when he tries to climb on it.Then all it needs is some paint.Good Luck!