The law is fairly straight forward, if you are used to working with genealogy. 

I’ve always considered myself a fair landlord, probably leaning a little too much towards the tenant and not always taking every fee I can per the signed agreement. 

These days it is fairly common practice and when purchasing from an institution it will be the norm

Hi Tim,I would just recommend that your realtor stays in consistent communication with the seller’s attorney for progress/status.

Mount Vernon is fairly close by and we have similar goals.

I would recommend teaming with a realtor and/or negotiator who can do the communication and negotiation with/for you, so that you are not turned down as a buyer by the bank.

I would like an approach that is fair to current investors, but also encourages them to let some of the funds rid for future investments.

Now you just avoided buying a property where you would have lost ~200k out of the gate or you have a way to go back to the owner and attempt to purchase the property at a fair price (~1.14M). 

Sounds like there may be some type of communication breakdown between you and the tax preparer.

Hello,  I'm fairly new to the real estate investing world.