The closing date extension will tie up the deal for you a little longer and the financing contingency should protect your EMD if you are unable to find a solution.

He says this tenant has helped more than a few times when he was unable to with minor handy work, etc.  

I nearly went in as a credit partner on a 4-unit but was unable to because of the timeline (I was buying something else and didn't want the impact to my credit).

The tenants were telling me that the city was planning to put up new condos across the street, but after a lot of research I was unable to confirm that in any way.  

If they are advertising "below market rents" it is a sign that the current owner is not motivated enough to move rents, or they are unable to increase rents due to market forces.Once you find out market rent, you can start negotiating on some real numbers.Then you have to do what I call the "simple math" to derive cash flow:RENT - VACANCY(~10%) - MANAGEMENT FEE(~10%) - REPAIRS (~10%) - TAXES(Monthly) - INSURANCE(Monthly) - MORTGAGE(Monthly) - SELLER FINANCING COSTS =CASHFLOW.Note: I'm not sure what your lending situation will look like, or if you intend to do 100% seller financing, so the above may need to be adjusted accordingly.It's imperative in your situation that you ensure a solid positive cash flow.If I were you, I'd just make the offer that you want.  

The land is not worth much, so I am unable to sell it.  

If you open the company before you have a broker's license, you will be unable to start the licensing process ever.

@Russell Brazil Hi Russell, the delay is triggered by seller as he failed the fire alarm test at the last minute (procrastination, I guess), and unable to meet the closing date.

Besides if your unable to generate traffic to your site then it wont do anything but burn a hole in your pocket.

I was unable to find a title company that could guarantee me what I'd be inheriting without the property being listed for sale so at this point I wasn't willing to try it.Podcast 160 talks with Stefanie Marshall talks about the lien issues as she purchases a lot of properties from auction.