How can we enforce a condition where that house should be sold only after group's approval, and should be sold only to another family with a spl needs person.

Personally I think $1.05 is not a smart listing price.

We've done this personally on refis with just a lease,  but through a local credit union so I'm sure it's different. it seems like there is a lot of potential problems this would create for the owner, tenant and PM if the lenders have to have a signed lease and all funds upfront, before the loan is closed.

Any investors/ buyers of mine looking for a vacation rental in Colorado tens to have dual goals -- investment and personal use.

I come across a person who has a commercial strip of 7 stores free and clear worth around 2 Mil.

Good luck on a wealth-building journey,

I can’t work with interest due to personal preferences so I don’t know what option will work the best for me. 

It's for a duplex (no personal use) DTI and everything is good.

My personal advice is cut your losses and move on. 

This is based on my personal experience.