I have read in threads about foreclosure buyers having to give squatters notice...I don't know what is legally correct here, but I think a conversation with the owner explaining that you paid for October rent already and you intend to stay there until the end of October should work well for you.

Brandon Turner, you are correct!

Then I invite you to come back here to this thread and correct your earlier post.

You understand that you need 20% down for an investment house, or 25% down for a multi-family, correct?

If done correctly, there is a lot of work put into arranging commercial financing for a borrower and many years ago, when upfront fees were more common, there was considerable expense involved as well.  

Buying property to rent is correct.

Mark is correct.

The one I entered doesn't display correctly, but not only is it likely too big, but also a giff.

Absolutely correct.

So even if the property is paid off with no mortgage, you are still leaving 50% for the operating expenses and "reserves", correct?