As you may have been aware, this duplex was purchased by me on [CLOSING DATE], and the resulting change in ownership will take full effect today, [TODAY’S DATE].

Yes this is very common in trading of NPLs with very aged past due dates, which could be outside of the statute of limitations. 

As saying goes you "date the rate but marry the mortgage". 

The plan was to complete flooring, electrical upgrades, new kitchen and bathroom, exterior fascia work, and some new windows, with a target listing date of June 15th.Update (5/12/24):The property has been stabilized since June 1st of the previous year with great tenants in place.

The area and price range you mention  should go  very  quickly regardless of the time you list the property... when you sell - you can also ask the buyer to provide you with an extended closing date or lease back ( if you need some extra time before needing to move ) . 

After the inspection date I believe you are obligated to purchase the property. ( Or could lose your EM ).Im sure the 21 days is totally sufficient if the property is a WINNER.

q=f8z5B-7KWMortgage DetailsHome value:$495,000Down payment:20.00%Loan amount:$396,000Interest rate:6.10%Loan term:30 yearsStart date:Aug, 2024Property tax:$6,000.00PMI:0.50%Yearly Home Insurance:$3,000Monthly HOA Fee:$0BalancePaymentsTaxes & FeesInterestPrincipalBalance20242029203420392044204920540150k300k450k015k30k45k Mortgage Repayment Summary$3,149.74Monthly PaymentPMInot required$99,000.00Down payment amount20.00%Down payment %Jul, 2054Loan pay-off date$467,906.17Total Interest Paid$500.00Monthly Tax Paid$180,000.00Total Tax Paid$250.00Monthly Home Insurance$90,000.00Total Home Insurance$37,796.87Annual Payment Amount$1,133,906.17Total of 360 Payments

Mezzanine Debt typically has a maturity date and involves contractual interest payments, which may be a mix of current and deferred payments.

I tried memberships in the Monroe County REIA, in the Wayne County REIA, and in the Toledo REIA - but the best I've found to date is the Michigan REIA out of Troy, MI.

As soon as I know the exact dates ill be in San Antonio, ill schdule some time on your calendar.