Not that you can try to negotiate better but it would at least be an interesting exercise to become more stringent on the property profile and back-off on the cash-on-cash return and see where it gets you.Or if cash-on-cash is the paramount threshold you can seek out value-add properties (risk/reward there) or some alternative markets that aren't as hot as Seattle.  

You can tie up the replacement property with a lease option/option so that you can choose when to exercise the option and close on the purchase.  

A year and a half has gone bye and I realize this money is not going to last for my entire life if I don't start living very conservatively even with the investments that are made from within the trust, or enhancing my income. 

I've also instructed my PM to put a 3 day notice on her door this coming Tuesday as an additional enhancement to make sure she keeps her word to "pay by Friday".  

It was a fun exercise but I realized that I needed a partner.

Hello @Ryan Randalls.I would exercise extreme caution as a new investor regarding adding on to a house.

They often think that an option to buy would be cheaper.My terms:Lease with option to buy, not rent to own.10% option of agreed upon price.1/2 option paid upfront, 1/2 added to current rent price spread out over 2-3 years.All option fees paid is non-refundable (credited as down payment if it goes to sale)If tenant fails to exercise option at end of option period, all money is forfeit.Historically, I've heard statistics that these option to buy situations almost never make it to closing. 

This exercise will help you understand what the tenant pool in your area is looking for and what they're willing to pay for different amenities.  

If most of them don't qualify for a regular mortgage, how do they exercise the option to buy?

By putting a premium on the amount of DD money in the offers, the owner is obviously trying to bind the buyer and prevent from exercising optionality and tying up his property during diligence period.Your advice about getting a GC in there makes complete sense, especially given a building is completely down and that the complex that has been neglected.