Expenses - Insurance at $50 per month looks low. 

Another option could be to talk with the local cable provider to see what kind of marketing package they will offer. 

She reached out to me and asking if I can waive the late charges because she laid off and looking for a new job and she doesn't have the rent for now and no time frame to pay the rent.My answer was no and I offered her to pay what she owes and move out immediately before I start the eviction process.

The mortgage, insurance, and HOA totals to be $1750 a month.

Does anyone know of any lenders that are currently (Spring 2015) offering such a loan?

We'd be extremely grateful for any suggestions you can offer!

I would make sure with your loan against the rental house that the rent will still cover all the expenses, including the new mortgage, taxes, insurance, and a maintenance reserve.  

This offers no additional protection, adds additional operating expenses and  is treated in court as an alter ego entity.

If your calculation makes sense investment wise for you make an offer based on your numbers.It is hard for the seller to completely manipulate the income of a commercial property, if your lender is thorough it will be revealed in the financing process. 

"Can I make an offer contingent upon finding a tenant to lease the space within X amount of time?