On market, multiple offers so had to pay above asking.

However, older instances are to be considered more holistically, suggesting a more lenient approach to past financial or rental difficulties as time passes.Exemptions and Protections:Certain properties, particularly older houses that cannot easily be brought into compliance with current codes, are exempt from some source-of-income rules, acknowledging practical limitations in applying these rules universally.Landlord Liability:The ordinance provides protections for landlords in terms of reliance on third-party information to reject a tenant, mitigating potential legal risks associated with tenant selection processes.Fair Housing and Legal Compliance:All considerations of prospective tenants' applications must align with fair housing laws and other state and federal legislation, reinforcing the ordinance's compliance with broader legal standards for housing discrimination.

It was fully flipped and we offered slightly less than asking.

Three or more months and have the renters pay for water and electric but offer Internet and yard care. 

Then make certain they can offer what you need. 

If you are a new REI and never been a landlord before I would suggest re-thinking the rooming house goal. 

Your offer to purchase should include a requirement that the Seller provide all documentation and agree to sign an estoppel certificate (also called an estoppel form or agreement).

Any suggestions would be appreciated.

I responded to her FSBO ad and made my offer which she happily accepted: a 36 month lease option; I'll bring her mortgage current, (1 month, $800), and continue making the monthly payments; option to purchase price of $88K, (my estimate of value, $100K); and I had the right to buy, sell, sublet, or assign the property at any time during the 36 months.

Thank you for the offer.