Are you getting rid of the students or just letting lease expire in the 2-3yr mark you mentioned?

It will also define a term after which time the option would expire.

If redemption has expired, your offer then goes for judicial review, along with any other offers.

To find the sellers I recommend leveraging your MLS for expired listings and also long DOM properties that are dated (not fixer-uppers).

Have the lease expire when it's time for you to move in, or have it as a month to month lease.

If the tenants are on a current lease they are allowed to stay until the lease expires. 

The lease expires in 5 years and the tenant has two 5 year options to renew.

I'm still trying to wrap my head around RCW 59.18.650, and am pretty damn confused.Is it better (as a landlord) to have a lease that provides for the tenancy to continue for an indefinite period on a month-to-month or periodic basis after the agreement expires or one that doesn't?  

It may not provide you seller notes, expired listing or other information, but these are things you may not need anyway. 

The counter offer expires at 4PM this afternoon.