The LOI provides clear written and agreed terms to help prepare the contract.Sales Price, Due Diligence period, financing terms, Who is paying what fees, what you are requesting for due diligence (leases, financials, maintenance schedules, etc.), Hard or Refundable Earnest money & terms for that, broker representation, title company, attorney info, etc.Best wishes to you. 

Talk to your tax advisor/preparer to see what type of a loss if any you can take regarding a negative impact from the sale.

My partner, Will, and I are preparing to get into flipping in the Berkshires of Massachusetts in the coming 6-12 months.

Perhaps, your PMC needs a better lease or an addendum to cover issues like this.PMC should send a warning letter that clearly outlines repurcussions of what will happen if the tenant doens't comply.YOU must be prepared for the tenant not paying, requiring eviction and any potential retaliation damage to the property.

Realize also you have ongoing costs for each LLC that you set up, Yearly resident agent fees, possibly fees to have your meeting minutes prepared on a yearly basis, Tax preparation fees for each LLC Shell, and You're 1040, etc...

I say them so that you can be better prepared to deal with reality.

Be prepared for the challenges of managing a property from a distance.Good luck!

Stay prepared, stay resilient, and always keep your eyes on the bigger picture.

Just prepare the lease for them to sign but I suggest you include a paragraph apprising them of the redemption period and that they will not hold you responsible if redeemed and evicted. 

Either way, I'd love to connect and hear about what you're finding as you prepare to do your first deal!