I'm wondering if someone has a sample  letter in regards to the obligations to keep taxes current and demand to cure this default in payments back to me as I will pay?

There are many ways to pay PMI:- LPMI - lender paid MI which is a fancy term for taking a bit higher rate to absorb the cost of monthly MI for the life of the mortgage, depending on your credit score it may take .125%- .50% more in rate to absorb your entire premium for the life of your loan- BPMI single premium- similar to the above it eliminates the monthly MI premium for the life of the loan but BP part of BPMI stands for "borrower paid," so as you might have guessed the borrower pays this premium in a cash sum at closing either from their own funds or seller concessions they've negotiated from a seller or a gift from their giftors -BPMI monthly or split premium - MI can also be paid as monthly MI which is the stereotypical way to pay MI and it can also be paid as a split premium or hybrid whereby the borrower pays a good chunk upfront to have a greatly reduced monthly MI payment.Most people take LPMI and absorb it through the rate via LPMI to eliminate MI for the life of the loan. 

Instead get  a longer listing commitment and then if the seller wants expensive advertising you might offer in allowed in your state ( and with your brokerages approval) to rebate their advertising expenses at closing they pay for with legitimate receipts off the commission.This way if a seller pulls off the market,goes with another brokerage mid listing, or tries to cancel early etc. the seller will be out the money and have skin in the game.

(Hard money) If you're looking at getting a conventional loan, get pre-approved first before you start looking for deals.2: Putting a house under contract means to come to an agreement with the seller, put it on paper (contract), and have them sign it.

Because after all the definition of market price is what a buyer and seller agree on.

Comp rents are around $1,100 and I think the seller may be interested in taking $110k-$120k.  

@Ryan EllisAn assigned Lo agreement Mortg brokers don't likeI enter into a Lo agreement with seller w letter of intent to assign and get a fee from tenant buyer, then record the option, then charge an option release fee to buyer, keeping the same terms, option release fee is NOT part of original option, buyer needs to qualify w their own saved down paymentInterview a few mortgage brokers about FHA Mortg qualification 

Also, how is the market right now for sellers in the Bergen County area in general?  

Can a Realtor put it on the MLS a few days AFTER getting a contract with their seller, just to pitch it to their investor friends, before putting it out there on the MLS? 

However, the rental market that we are in in SoCal is very strong right now with high demands in my area.