If he thinks you are the buyer and has a short fuse... good luck, sounds like a recipe for a BAD situation.

Are there real estate agents in Westchester County, NY that specialize in finding short sales, pre-foreclosures, foreclosures, etc. for cash buyers?

But tenant is Duplex A is $500 short. 

A possible alternative would be to find a local partner with experience and success in running short-term rentals, and do a 1033 to partner on one in the same or another attractive area in SoCal. 

Long story short, you're coming out of pocket every month with this one to pay the bills once you turn it into a rental.After 3 years, you'd have about $27k in equity (assuming no appreciation/depreciation), which shakes out to about $750/month of your BAH going into your pocket for 3 years living there. 

Recent quote from First American for a refi around the same loan amount: Escrow fee $595.00 - includes recording feesTitle fee $450.00 (short form policy)Notary fee $150.00I like them because they don't change a dozen different fees!

The short of it is, if I wait 6 to 8 weeks, I'm out probably at least 3-5k.

It's a short drive to Richmond (30 mins) and a lot of people commute.   

At that point if you purchased the property to flip it the cost of renovations, repairs, apoliances, etc... would be capitalized as WIP inventory and then recognized as cost of sales once the property is sold.If you are not a real estate professional and you aren't actively flipping multiple properties per year (specific number is a gray area) then you would still have long term or short term capital gains.

Am generally not a fan of inheriting tenants and if I do, I prefer that my lease be implemented, but clearl y that is not always realistic.Thank you though for this suggestion and I am going to try to see if working it from your suggested angle will work here in Colorado.In the end, I want to set up a lease that does not have holes, that an attorney, God forbid we ever have to evict (though these tenants do not seem like the type to cause any issues and I generally am a good landlord and stay away as long as you are following policy, so thus having a detailed lease that covers most all and then just backing off.My inspections are generally once a year, outside of the move-in, move out.I also stay very engaged in the running of my property, thus self-managing as in the end, I strive to provide a place I would enjoy living and I actually live on one of my properties.Long story short, don’t care for the very vague lease that the current property management company has running.Additionally I have little confidence in the way they were managing the property.The property has so much potential but has clear signs of neglect and I intend to change that as I never simply abandon my properties.On the question of current lease, I have combed through it repeatedly and do not see any mention of what happens at lease expiration only what happens when tenants are seeking to terminate their lease, “30-day written notice required”.No stipulation on what is required of landlord at end of lease and/or automatic renewal, both items that I cover in my lease and another reason, why am not a big fan of the existing lease.Leaves out a lot.I prefer having systems in place where there is little chance of misunderstanding, so thus the nerves on this one, but I will get through, thanks to you all for all your great advice!