I think it will be unlikely to find a commercial-style loan for a multi-family property at anything less than 20% down...they will likely be 25% or more at this point. 

Pick your plan, look into the Kansas City area, use market comparisons, check your money power, look into loan options, put together a team, check cash flow, ROI, and Cap Rate, and make your bid after careful checks and talks.

I am unfamiliar with taking on a loan of this size and the possible liabilities. 

If nonQM, most lenders have a $100k loan amount minimum.

My assumption is that she'll say 30 days is not enough time to find a new place (if she can't promptly pay her under market rent, how will she come up with first and security deposit elsewhere), will not finish paying her May rent and won't pay June either so trying to see if it's best practice to have that eviction filing in process as an incentive for the tenant to move along quickly.As a note to others in a similar situation, what I've read here in the forums that I didn't adhere to was "stick to the lease" and if someone is a consistent problem, they're not going to turn on a dime and get better, you have to protect your investment and part ways when things aren't working.Any insight appreciated.

However, we backed out of said deal because we found out we would only qualify for a certain amount of money on a second loan that was way too low for the market I live in.

Thanks for your response.If current owner has no security deposits in escrow am I allowed to require deposits or renters insurance upon closing the sale?

There's zero security if payment is accidentally sent to wrong person.

One thing I run into often are borrowers who are looking for loans based purely on the After Repair Value of a Fix and Flip investment.

Since it is vacant, this would probably work best with a conventional loan, and the proceeds would be used to pay for the reno + buyout.