Did you attempt it for a time but find it not worth the effort vs. other cost-cutting strategies? 

Is there any options other than cutting my losses?

Or did they just have the funds in the bank to cut a check?

After just doing months of researching on wholesaling, I learned at the end of the day...information overload stinks and there's too much fluff in having to cut through to learn what I ended up learning.  

Quote from @John Mason: First of all  looking at the cashflow nowadays is not going to cut it, maybe look at value add and appreciation until the rates come down Cash flow can be found in the right markets.

However, for personal reasons the tenant is no longer interested in remaining in this rental and wants to be "bought-out" of their "ownership".First and foremost, a verbal agreement just isn't going to cut it and getting a signed legal contract is the first step.

I budgeted knowing I was going to have my work cut out for me.

Tenant also agrees to the following:-All drains, waste pipes, and plumbing are accepted as clear by Tenant at the time of occupancy, and any material blocking them after occupancy shall be repaired at Landlord’s cost, unless determined by repair person that such blockage occurred during the time Tenant controlled the Premises and due to some fault or negligence of Tenant, specifically excluding blockages caused by roots or backups from the street.

Our current property manager is not cutting the mustard (not enforcing late fees, slow to fill vacancies, etc.) and I would very much like to replace her with someone who will approach our investments with a more business minded attitude. 

The company's legal counsel has said a guarantor is not needed, citing the company's annual revenue and an employee, effectively, being unwilling to cut a check on behalf of their employer.