In the lease you must clearly state that any outstanding utility bills left unpaid by the tenant will be paid on their behalf and are due and collectible from the tenant when paid.  

Outstanding balance is 470k.

But this may be then most logical option I have 3) I am quickly approaching 45 days and rather than rush into something just pay the damn capital gains tax.

Damn!

My thoughts right now are:- $700-900 per month in cash flow is outstanding- $67k to get into the deal is a lot, but it would garner ~$100k in equity- I'm split between keeping the killer loan rate and using the property for cash flow, potentially flipping the property, or actually moving into the property myself (coincidence here, but decent timing/location for a possible move for me)I'd love to hear some thoughts on this.....good, bad, ugly or whatever.

If a tenant leaves the place clean and without damages, and has no outstanding rent or fees still due, then we will be able to do so.

Flip (assign) contract to Cash Buyer with 'asking price' (within my asking price, I incorporate my spread (commission, percentage, whatever you guys call it), any outstanding balances and the money needed for the seller).

This is such an outstanding and detailed example of how to create value and generate cash while improving your own asset-truly humbling.

Its important to note that the rent from the 3 units is added to your income to qualify (less advantageous calc method)  and is not used to offset the mortgage (more advantageous calculation).Also you have two current loans outstanding VA loans that have 67% of your 667k limit tied up.

It is ok, but not outstanding.