FHA will not extend the waiver beyond December 31, 2014.Section 203.37a(c) lists the sales transactions exempt from this rule.The exempt transactions include sales by HUD of real estate-owned (REO) properties under HUD’s regulations in 24 CFR part 291, sales by other federal agencies of REO properties, sales of properties by nonprofit organizations that have been approved to purchase and resell HUD REO properties, sales by state- and federally-chartered financial institutions and government sponsored enterprises (GSEs), and, upon announcement by HUD through issuance of a notice, sales of properties in areas designated by the President as federal disaster areas.

Extend lease option if it makes since4.

Duration - I would be fine starting at 5 years, but any increase in price should be offset with a longer duration and bargain interest rateBe sure you have a decent exit strategy if you have to sell the property soon after you buy it. 

I would consider extending the tile through the high traffic walkway.

They also go to extended stay places.  

That construction agreement may not be valid without a license.Forget any construction financing, you can't give the property as collateral.If suppliers extend credit for materials, they will generally want the address and owner to sign or a licensed contractor with a valid construction agreement allowing liens to be created.You can file your option and cloud title, but that cloud doesn't prevent an owner from selling the property subject to that option, the new owner will be obligated to sell it under the option, but if you fail to exercise it as agreed, they will own the place.

Can you leave it with the seller in some way for an extended period or can you transfer it to a buyer?

The back splash will go up all the way to the cabinet and also extend into the window area, paint bottom cabinets white, install new hinges, knobs and handle, remove old excess wiring, remove the ceiling fan and install track lighting, install can lighting over the kitchen sink. add new kitchen sink and pull out faucet.6

Basically, if I'm signing a document that covers the extended terms of the sale, that paper is worthless to everyone but you and me.

Is this document assurance of what tenants are paying and lease duration?