We're seeing new 3700ft builds out in the the south end of UT county on .2 acres, 1850 ft finished for a base price of 375k - that's before you upgrade to an ounce of tile or granite.

I would assume that I could not renew when the lease is up next year based on income requirements, but I am not sure of the normal terms that go along with section 8.Well, with all that, I appreciate any and all advice, feedback, questions, etc.

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Based on what you wrote, short of paying cash, that's your only option.

Based on my current financial situation, do you think the goal is realistic?

I am looking at a property on auction.com and the listing says: Conventional Financing Not Available.Does anyone know if this contingency is based on the time that is required to close or whether it is just a protective clause in case there is a cloud on title and financing would not come through.I have a hard money loan lined up for it and would plan to back into a mortgage as the property barely needs any work. 

On top of "giving your Tenant an inch" before he/she even moves in, I still don't think anyone can conclusively say what the long term effects of vapor in an enclosed spaced are going to be.

Based on the information provided, you may want to cut your losses and move on. 

If I were writing the offer, I'd evaluate the property based on the cost of this repair by either asking for a price reduction equal or greater than the price of repair, or for the seller to remedy the situation prior to close.

In terms of the niche, everyone has different preferences, so if you're talking feedback from others, make a decision based on what would work best for you and your wife.