Then verify they are the real owner of the property by research - some people just lie and then conspire with a friend to be the LL... 

Please verify research.

I would verify that she's able to float the property by herself and assume it'll be just her paying.

@John PuI'll try to answer some of your questions here.1) Due diligence should involve verifying all the numbers as on any deal, structural inspections, environmental study, etc.

Surely you have something in the lease about destruction of property.The inspector never should have done that job without verifying that they owned the property and had the authority to order it.Did they give you the report?

If I waive inspection period, does that also mean I waive right to "inspect" or verify financial/rent roll history?

I imagine they could verify it through county records if they wanted but I’m guessing they just go off what’s listed on the tax returns. 

"Trust, but verify."

I agree with @Greg Dickerson, degree in Finance will be a lot more beneficial and yet generic enough if you decide to to go into another field.

Verify everything.