The better solution is actually amending the ceiling below.

I would amend the purchase agreement to state that a specific amount of funds will be withheld from the seller proceeds at closing, to be released only once the roof repair is completed.

If you are already under contract, get quotes to repair the major issues, and send an amendment for a price change or for credits concerning the repairs needed.

If I have to amend my return, fine.

I flirt with the idea of cashing out here in Los Angeles California and buying a primary cash in Tennessee (tax break and second amendment friendly) and then use the rest of the cash to invest in rental properties.Some things that cross my mind. 

When you add this to your lease or an amendment do you have to copy paste the whole section or may you briefly describe it and then cite the part of the new law that it refers to?

Is it necessary to make amendment by adding grace period to our current leases?

You may want to amend the reporting to that of sole proprietor or take on other members.And yes, the LLC must be the entity doing the exchange. 

If they do not give you any power over leasing or tenants, then there is nothing you can do except amend them, and THEN implement your procedures outlined above. 

You do have to honor the current lease for now, you can't unilaterally amend it to include late fees.