Most folks feel comfortable with a year but there could always be circumstances where a shorter (or longer) holding period would be appropriate to demonstrate your intent.

or cash.. and scoop the deals when and if that time comes around again. but I think its fair to say 08 to 2012 was a very unique set of circumstances and other than a one horse town or one mill town or one main manufacturing town.. were the mill or plant closes and real estate tumbles.. we just never saw such a wide spread loss of values.. 

The "hot" markets are going to be really tough.Beyond that are the units outdated, exterior neglected, or some other deferred maintenance or management issues?

You would have to find the right property, with the right owners, under the right circumstances to get a deal like that done with no money out of your pocket.

Obviously, it's too late for this circumstance, but I'm always looking for ways to improve my lease and business.

For the sake of society and business, contracts should be taken seriously by all parties.In the example presented the buyer straight up neglected to act as agreed by date agreed. 

In my opinion I wouldn't say its a bad idea but to be prepared with more cash for unforeseen circumstances as stated above.

It's filling out a form online and having a computer program spit out numbers based on statistics, not the facts and circumstances of the property.

@Ronnie GalindoIf you can wait another year, look into Internal Revenue Code Section 121 - exclude the gain from sale of your principal residence under certain circumstances. 

This is very clear in the law, and is not allowed under any circumstances.