If the documents were falsified then the price should be based on the actuals. 

Write down a narrative of what happened and attach all supporting document.

@Mohamed GharibMake sure you check the condo documents.

We are closing with First American, and the closing document has a seller finance addendum and promissory note.

@Derek Nemec- can you qualify for a " regular" loan or  are you after a DSCR  type loan ? 

Currently under Lease w/ Purchase Option Agreement until 07/01/2026 What made you interested in investing in this type of deal?

Might be a good option to sort that too on what your strategy is and the type of available product.

Area of town can make a big difference on the type of residents that the property will attract and the level of work and risk involved in operating it over time.Sounds like it is an older property, which is okay, but increasingly lead paint, asbestos, etc. are concerns to residents and government regulators. 

Are there certain types of investors you are wondering about?

If you click on the magnifying glass in the upper corner and type accounting you’ll see other times this has been brought up and the answers given.