Most come out ahead over an extended period of time by buying better quality assets where they perhaps have to leave some capital in the property but find themselves able to sell for real gains or refinance out appreciated equity and scale more effectively that way. 

Both companies have been wonderful to work with, and the families were also great.Always make sure to reach out to the company before placing new residents as they have a high liklihood of needing to extend.

Can you extend settlement in order to get approvals? 

Why I am leery of these "creative" things for people with little to no money One of the concerns of going to fast is over extending beyond their resources. 

The Construction Agreement says they have access for 6 months and can extend up to 12 months.

This is a post-closing penalty charged by the Escrow Administrator to extend the renovation period beyond the maximum renovation term of 180 days in the event renovation is not completed within agreed upon terms.

And then it might have the option to extend it to a nice round 5 years if/when the current tenant extends. 

The potential benefit is qualifying for a possible 100% in 2025 that may or may not be extended back into 2024.

Ben,First from a Bankers point of view you are over extended from an LOC perspective and its hurting your DTI and future approvals. 

Just make sure that it isn't turned off for an extended amount of time.