It was convenient for him because asking price was below market value and the home had a basement apartment, which he rented out after purchasing.

It may help if we knew what market this is in.General advice is the market is competitive everywhere, so do not skimp out on furniture/upgrades/amenities/photos etc

While I haven't done a traditional flip, I have done some heavy remodeling at each of my properties and have some unique ways to find potential on market deals. 

That's right—we haven't seen rates like this in over a YEAR.And here’s more great news for buyers...the market has more properties available than this time last year, leading to a slight drop in median prices.Now is the time to make moves.

Typically, when rentals have been on the market for that long here in Columbus, it's because they're asking too much for rent. 

The landlord insurance market in Houston, particularly Harris County, has become more challenging, leading to fewer insurers and higher premiums.

I've been doing some direct marketing here in the Sacramento CA area.

In the current market, that would be tough to do at anything over 75%.

I did think about perhaps offering to rent to them for a specified amount of time at below market value (enough to cover the taxes) till they can get things figured out.I want to do everything I can so not to come off as a prick.  

Did you do the market research?