Since you don't own the asset yet, you shouldn't be discussing with tenants.One step that is sometimes forgotten is, once you have made a serious offer (your due diligence period), you should explicitly ask the seller ( as part of the offer) NOT to enter into another leasing agreement at prices/conditions not approved by you. 

However, if the evaluation was lowered, I would refund the previous owner for the time period it was lowered while he owned it.   

I know there are note investors in it for a longer period, but they are buying existing non-performing notes at a discount, making them perform, and then selling or holding. 

The two rented units need some cosmetic updates including replacing windows.

Sign a contract with the seller , give yourself an inspection period.

Unless you're buying an absolute net ground lease where Wendy's has 15 years left on their primary period, you're gonna need a lot of cash.

Inspection period is 10 days.

And some out there probably want low crop land that periodically floods because rice and soybeans are their thing.

@Mary BygarI work with @David Ribardo who is a real estate agent in the Lehigh Valley County.He is a real estate investor himself so he may be able to give you an insight that other agents may not be able to do.He has me set up for a daily email that gives me updates to the MLS(new listings + price changes).

It is called due diligence and if they do not provide you/your lender with the information needed during the due diligence period, you should be able to walk away depending on how your contract is written.