I could probably fit about 6-10 desks in a particular location I am interested in.I have not reached out to the owner to find out if this is ok to do, I simply do not need the space but wouldn't mind renting out extra desks to others which would also happen to be in the same field as me.Am I even allowed to do this?

Other than that it’s really not that different from a non-short sale purchase from the buyer’s perspective. 

Something seems shady here even beyond the apparent impersonation of an attorney, particularly since the heirs could have immediately sold the home even 10 years ago for much more than they got for quitclaiming.   

@Joel Fine I don't think getting your CA license would be particularly helpful.

I would also study in detail the landlord/tenant laws in the state you are investing, and see how easy or difficult it is get rid of non paying tenants. 

THE AVERAGE RENTAL PRICE FOR A NON-DOORMAN STUDIO DECREASED BY 0.3%, FROM $2,547 TO $2,541.

Your property has some non-curable fault that makes your property less desirable than your preferred comps but on par with the ones being used?

It has non structural concrite damage in the back yard.

I would not buy something now with the expectation of the same amount of appreciation we saw in recent years nor would I expect a significant increase in market rents for any particular neighborhood.

I'm searching for 2-4 unit multifamilies to buy and hold in Lake County, in particular Waukegan and Zion.