Based on this and below information, I was thinking about making an offer of $80,000. 

As long as I end up with a property that is structurally better and younger (capex) than most comps and I stay below 75% LTV with good cashflow I think it's a solid deal. 

The lease itself explicitly states no pets:12.PETS:No dog, cat bird, fish or other pet or animal of any kind may be kept on or about the premises without the Landlord’s written consent.See Pet Addendum.Here is what the Pet Addendum states:THIS AGREEMENT is attached to and made a part of the Florida Residential Lease Agreement dated January 11 , 2015 by and between  xxxxxx(Landlord), and xxxxxxxxxx (Tenant), for the Property located at xxxxxxxxxxxxxxxxxx.Tenant desires to keep a certain pet described below on the Property and the Florida Residential Lease Agreement specifically prohibits allowing pets on the Property.The Florida Residential Lease Agreement is hereby amended by this Pet Addendum to grant such permission to the Tenant.

Not only do I rent from her but I am getting a below market rate on the property I am in. 

What do you think I can do with below wood burning fireplace.

These would easily rent at $750 per month which is slightly below market rent.  

Just make sure to try and acquire the property at below market value -- that's where the bulk of your money will be made.

I attached an example down below

However, if it's difficult to get a full accounting of the owner/landlord's assets then my guess is that the chances of a lawsuit are generally expected to be lower.  

If you do this, your profits will be lower (you have to pay the loan costs), but you may find that your percentage returns are even higher.- There are people who prefer to invest in areas where houses resell for $100K; there are others who prefer to invest in areas where houses sell for $1M+.