How can I correct cashflow issues if I have 3 properties?

4) How long will it take to get their bid?

Your specific variable expense assumptions are wrong, BUT you stumbled into them being correct overall.Also, you are approaching this correctly - entering in the numbers to generate a purchase price that meets your metrics:)

It’s ideal to have them view the property after the inspection, so they can consider any issues discovered during the inspection in their bid.

Of course a visit to the county records office and -correct reading of the legal description would reveal that the tennis court lot was the one being sold.  

Every market is different, but paying cash doesnt necessitate a huge reduction in price - it might, or it might just make the offer more competitive than other bids that require financing. 

So, why would they waste their time getting multiple bids when they already know the answer?

At that point, the clock will restart by 5 minutes after every counter bid, until the bidding stops.With mortgage foreclosures you'll want to guarantee that the property is vacant to avoid going through a messy eviction battle.  

I can't speak for the city itself / near the university, but up in areas like Liverpool properties are getting multiple bids regardless of the condition.

They likely will be a bid on the 2 year balloon options, too, in 2025.