Now she wants to sell it before she gets out of bankruptcy so she doesn't lose it to foreclosure(I'm assuming once she gets out of bankruptcy it will automatically start the foreclosure process).  

I believe it is 30 days in the rest of the state.Assuming the lease automatically renews on a month to month basis, you have to mail BEFORE the lease renews.

It is reasonable that basing everything on the existing "lease" that will automatically go into effect based on a daily proration (I.E.

Well Chris M. guess with the non-commercial, My gripe is that I would expect to get a lower down payment, but when they classify my property as commercial, that seems to automatically require 20-25% down.Julie Marquez that is good information to think about and I will certainly ask the question next week, if for no other reason than to present as an knowledgable investor.

If you put an expiration date on it, then the offer expires at a certain time, thus limiting the time the offeree has to accept the offer, in other words it is automatically withdrawn at that date and time. 

After 5 days, it is an automatic 5% late charge. 

I was thinking from a legal perspective I would need to perform an OFAC check which is automatically done through my background check system(https://www.tenantbackgroundsearch.com).

Absolutely - plus it is automatically free to the buyer if listed on MLS. 

The seller knows you're not a robot or marketing company. 

It just automatically withdraws the rent from the tenant's account each month and then transfers it to your account.