Hey Paul, it was a pleasure speaking with you today.  

ThanksGreg You didn't specify the upside nor speak of a value add play in the deal so it's a little difficult to speculate how to best structure a creative financing package.Assuming it's a value add play with good risk adjusted gains at the end of the process then maybe the safest route is to negotiate a wrap transaction with the seller, and if your are concerned about a due on sale clause make it contingent on the lenders approval.The seller will confront these same financing scenario issues with all other buyers so if they want to sell the property then they can either deal with the issue with a reset and able buyer, you, or kick the can down the line looking for another buyer who maybe willing to assume a less than stellar financing package.As the buyer though your only concern should be the financing package that delivers you title, assuming you plan on making extensive improvements to the property, and allows you to earn what you determine is a reasonable cash flow from the project.Options aren't bankable.

The property obviously cash flows, so I'm torn between just ignoring it and keep collecting the rent... speaking up and giving them a pep talk (which is a waste of my time)... or putting it up on the market and letting some other heartless bastard worry about it.

I would speak with your lawyer on this.

If that is the case, I would suggest you speak with a commercial real estate broker.

Make sure you investigate and understand the local rental market, as (generally speaking) rural areas have smaller populations, fewer renters, and lower appreciation.

Grand Rapids is on the other side of the state, it's a great city but I can't speak to the neighborhoods.

Does anyone have a specific checklist they go down when they first speak to a new Attorney/CPA? 

@Darieal Sutton, Sr.Have a buddy who walks a targeted neighborhood door knocking on doors speaking to residents on behalf of the local politician.

I am working as we speak to get it under contract.