If you will be forming this corporation/venture with more than 2-3 partners, your are wandering into the realm of the securities folks and you will absolutely need the services of experienced counsel. 

We HAVE had things move quickly from city officials getting behind us, but that was with clear discussions and firm commitments.

How can I be sure I'm giving her an offer that is at the right price, and should I tell her I will have to find a buyer before the deal can be officially closed??

Also, in the event there is damage to the premises that the current owner is not aware of, how do I know what the condition of the property was prior to the tenants moving in or if they are trying to recoup their security deposit by claiming that the damage was there prior to the tenants moving in?

During the winter, he would switch out the official meter for his meter for 2 weeks out of every month and put back the official one before the meter reader came. 

Pitch your development to potential customers and just make sure the lease language has a poison pill that will let you out if the project doe snot secure financing. 

Sounds like you did your due diligence and secured a deal you're happy with.

Hi Tiana --  My LLC has a couple of business loans secured by rental property. 

In terms of improvements on the property, I had a wrought iron gate/fence installed, security cameras, and glass shower doors.

This is important because realtors keep their job security by forbidding access to the MLS.