I made it clear on the phone what the terms are in order to move in, first month's rent + 2 months deposit (among other things). 

I would think if you moved into the property and then rented it out after a few years THEN you might break even in another few years after that.

I can’t get showings or offers in on time to compete with seasoned investors.I didn’t realize it would be this difficult.

Should move to other property? 

I have one investment property (primary home converted to a rental, my first tenant will move in mid-April) and I have been getting mixed opinions on what is best for someone just starting.

So, I believe now if the heirs wanted to they could move to reverse the sale, but by now the time that happens the real owner may have invested real money improving the property with no hope of recovering it and nothing to protect them.

When it's in better condition then a tear down, you win.If he doesn't accept that offer, keep it moving.

Bamboo is a good species, and very hard (harder than oak, IIRC)/ Just get it refinished and move on.

In either case, I'd be looking at markets with a growing population (demand), a shortage of inventory (supply), and a market that has a net positive importing of jobs with wage growth.As the Fed's a poised to make some moves with interest rates later this year, the question still remains to be seen what they will do with their QE/QT policy on their balance sheet as that will affect long term 1-4 unit rates. 

On the 26th, the tenant said that they would have the remainder of the deposit by the 29th and also asked if they could change the move in date to April 12th, which I also said was fine.Fast forward to today April 5th, the tenant is requesting to terminate the lease and requesting back her deposit.