That is, however, by no means an exhaustive list.

What about all the heat they put back into the house, even if you can eliminate the humidity from the exhaust?

Happy to talk to you tomorrow on the phone if you want as my research into this has been exhaustive and borderline obsessive! 

That said, have they actually exhausted their options?

If he wants to mark up he would be financially liable for vacancy and I would include something about splitting any losses should the tenants deposit be exhausted. 

I'm literally in the same position but have exhausted my network!

Exhaust calling all local banks and CU's in your area - you may be surprised as to what you find out from each bank as far as what they will and will not lend on. 

If the conventional loan is what your after you should exhaust your list of local and regional banks and if nobody is financing then consider changing your ownership structure to get it financed via conventional. 

This is where I'd start, and then once you exhaust your internal resources, start reaching out to people outside the company with specific questions.Also, depending on what market you're in, focusing on foreclosures, REOs, and short-sales could be pretty tough right now.

Replace bathroom exhaust fan in the bathroom upstairs Install new wiring and circuits for the new kitchen.