My goal is to offer the owners something that gets them the price they want, but over the course of 20-30 years.

Can't wait to check out all of these episodes and all of the different resources BP has to offer.

.#2: 17 tenant owned, tenant pays their own city water/sewer/garbage, $204 lot rent, 2.6 acres.I would like to purchase both, but I'm not sure what to offer.

Be prepared to offer them your help first and have something specific (ideally what they need!)

I would recommend either using a realtor's standard agreement if you are going through an agent, or getting a standard purchase and sales agreement you can find on various website (specific for your state) and then updating it with anything you think you should add and having a lawyer look it over if you intend to offer on your own.

I'm going to offer to buy it from you, owner finance preferred, but if someone offers you better than I can, I'm glad I pushed you toward the most successful direction.

If the borrower does still have title to the property, it is big, bold neon sign to you convince the lender to write-off the balance of the mortgage which would allow you to offer the borrower/owner land-value for the property.The other thing to verify is the state of the property tax account.  

3) The truest measure of value is what someone is willing to offer based on what they see - Price/Value relationship. 

That would allow you to prioritize the TO DO list (base in what you feel is need vs. want, as well as what you can afford) as well as communicate your intent to offer a well-maintained property.

The bank rep perhaps misspoke.  6 months seasoning is the most common but some wholesale commercial and portfolio lenders have found a way to offer 90 day seasoning (yes, off LTV/ARV) and still re sell them on the secondary market.