I just heard in NY they extended the moratorium.

Fighting the market tends to lead to overpaying, over extending, and losses.We have made a few significant transitions in response to the market to reduce our exposure. 

Our lease is up in May, however, we just found out that a family member might be moving in with us temporarily and she may need to extend the lease.

Kudos to you to be able to dive in headfirst and not suffer the common "Analysis Paralysis" syndrome! 

Yesterday it was extended to April.I have the flexibility to leave everything under the original landlord's name until I can figure this tenant situation out.I was thinking of sending a letter from my property management company introducing new ownership, laying out the new terms of agreement moving forward by offering a lease.  

Will the seller apply my extended warranty approach for everything that has electricity, gas or water running to/through it?

Obviously you’ll still need a property manager since you’ll be unreachable for extended periods, but when you’re looking for an investment, try to get the newest, nicest three-bedroom house you can afford, in the best neighborhood, with the lowest crime and the highest rated schools.You’d still need to run the numbers to make sure things still cash flows, but by getting into an “A+” to “A-“ neighborhood, you’ll attract better tenants who are willing to pay a premium to live someplace nice, which means they’ll probably take care of the place so that it will stay nice.

Plans for extended outdoor and green space will likely allow us a higher rent and lower turnover for the property... it's pretty rare to find a rental in the area with very private and wooded outdoor space.

@My Pham  Any conventional loan will need the lease to extend at least 5 years past the term of the mortgage. 

I have to try this out.The problem I seek to solve is to allow entrepreneurs who are suffering from high loan rates to save thousands with a new alternative financing solution.