It would be worth looking into the other terms and conditions but I would probably take the $5000 and flexibility.

@Jack B.You should get an estoppel certificate signed by the tenant detailing the terms and current condition of the lease. 

Any idea what kind of condition the tenant left the home in?

Is a fresh, nice, house treated better by tenants *generally* than one that's just left in dated/worn condition? 

@John ChenThere is any way I could read by a paper those terms and condition on the LLC policy?

Condition of the building?

Being paid consistently, on time, and keeping the unit is a good condition should be your top priority.

I'd spoken with the owner briefly on the phone once before and we'd discussed the overall condition of the property, why he wants to sell, how much $ he'd be happy to walk away with, etc.After the screening questions over the phone I threw a number out and he said it'd be the lowest he'd accept and still be happy with, but he'd still need to speak with his wife about it.Anyway...so today I met with them in person and he gave me some more info.This property is zoned for R-4.

Not sure about the condition of your condo or what amenities your HOA offers but it can't hurt to run some comps and see what you might be able to get for it.

The property is in decent condition but has not been renovated.