I believe it is important to have a plan and that it is ok to test that plan and change it from time to time. 

Overall, they want out of the property and want to sell it fast.

Hey BP Community,Long story short... before BP I received some "bad" counsel from a CPA to put our properties in an S-Corp instead of an LLC (properties are in Sacramento California if that matters).Fast forward 5 years and some of the properties have almost doubled in value.  

Hope you get a change to check out the great guides on the site.

Fast forward a couple years and I was actually fortunate enough to be a guest on the podcast!

Everyone raves about Tech Terrace and the area near campus but the houses are so expensive that your return decreases really fast.

My understanding from talking to other investors is that if you initially state that you plan to pay w/ financing, and then change your mind and switch to cash, you are still allowed 45 days.The 30 / 45 day clock starts when HUD/Sage signs the contract, not when the offer is accepted.  

My primary concern is the changing nature of renting a unit in a building whose units are being converted to day rentals, comparable to Airbnb.

You reminded me I have to change that picture to the Jersey Shore!

Another thing to keep in mind is if/how you plan on changing the floor plan of the house.