This whole situation just confirms how bad this company is, and I can't wait to be done with them.Here’s my question: What should I do if they miss the 45-day deadline?

@Mark BrownGood bad news is you may be able to reduce your tax burden with the loss.  

Too many new investors find out the hard way that cheap properties that look great on paper are usually bad investments.

It is better to get the right tenant than to put a bad tenant in.

You can treat the LLC as a disregarded entity and rely on your SS#.

Great news is when you get a deal there the spread is usually solid, bad news is many of the traditional marketing tactics don't work very well (at least in NYC where you cant cold call, PPC & PPL is really expensive and I don't know anyone who does well with direct mail).

However, both associations have a 30-day minimum for all lease agreements.Unfortunately, the bad news is that there really aren't any other buildings that I know of where the association allows short-term leases.

Philly is not bad at all for MFH.

So you might have a good agent, or bad agent.

If the amenities make the fees worth it, then it may not be a bad deal.