As you know, inflation is a combination of money supply and velocity. 

You should be focusing that energy on getting your new listing up, making sure supplies are ready and really trying to figure out how your rental model is going to be better than the previous owners.

You will also be a stronger buyer with a lower DTI.

I'd recommend finding a local investor or real estate agent with knowledge of the student housing market to learn where Waterloo is on the supply-demand curve and in which direction it is presently headed.

Due to mortgage interest, depreciation, repairs, supplies, maint fee, etc.

Northern NJ's supply overall of homes is low and is anticipated to keep getting lower because demand is there, and the amount of homes on the market is limited. 

Wife also supplied receipts and invoices substantiating the hours she logged” - Source Checkpoint.

@Kellie AlkayamI've noticed people tend to sell in the end if they are expecting to lose the property.You could either tell them that you need them to pay up to complete the deal and adjust your offer accordingly or you need to close before the auction date.You may also be able to try contacting the county and see if the parcel can be removed if you supply them with a signed contract.Depending on redemption rights etc you may be able to place a lien sighting the contract to purchase if you can't stop the auction or have the ability to close.

Which means building my business into something that is much bigger than supplying my family with a good sustainable income. 

Which means building my business into something that is much bigger than supplying my family with a good sustainable income.