What to do about evictions while a property is under contract

[Annie Dickerson]

We've currently got a 25-unit property under contract. We are just wrapping up the due diligence period, and everything looks great. Low vacancy, below-market rents, very little deferred maintenance, and in a desirable submarket.

However, this morning, there was a wrench thrown in. There's always a wrench, right?

We were just notified that two tenants are subject to eviction, and one other tenant has given notice that they're vacating before we close on the property.

This means that we could potentially be looking at a total of 4 vacancies, as opposed to the 1 vacancy we thought we'd have upon closing. On the one hand, this is a good thing, as we have the opportunity to turn over those vacant units and rent them out at market rates. On the downside though, this creates a much trickier lending situation, given the increased vacancies, especially since the property doesn't have that many units to begin with.

Given that we haven't yet closed on the property, what's the best way to proceed? Should we ask the seller to turn over and rent out the units before we close? Keep them vacant and work out creative financing, either via bridge lending or try to ask for seller financing? Delay the closing? Other ideas? 

Would love to hear your thoughts. Thanks!