Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Mortgage application activity has already seen a bump as primary mortgage rates are nearing twenty month lows around 6%, FHA in the very low 5%'s (and I've even heard of 4.875%'s floating around..) with DSCR rates now in the low to mid 6%'s depending on credit profile. 

You might also want to consider a credit repair strategy to strengthen your application.

I read about commercial insurance but I am not sure if it is applicable here and if it is, please help me understand how it differs from the traditional landlord insurance. 

You have no damages, though the previous owner at the time of demo may have had damages.3) Statute of limitation, if applicable, expires on nearly everything on civil matters at 3 years.

Ideally, along with your mortgage payment, you’d want to set aside funds on a monthly basis for repairs, vacancy & capex if applicable.

There is a few other reasons to evict that are not applicable 99% of the time.

I have always used Zillow's tenant screening application process to screen tenants in the past, and it's worked out for me so far. 

The only reason you should not enforce action is if its contrary to an applicable law or regulation...Here is another section from Seller Covenants:Seller agrees to honor requests for execution of endorsements of Mortgage Note from Seller to Buyer if made within thirty (30) days following the Transfer Date, after which Seller shall not be obligated to honor such requests.So if there was an issue with a prior document, after 30 days they can tell you to go pound sand - and based on court documents, this has happened. 

A flipper I know told me that FTF appraiser literally showed up the next day after the application was approved.