You most certainly dont have a legal right to try to charge them a 6 month penalty.

@Allen Zhu-  thanks ..Try finding and working with a single agent for each sperate area you are considering ....if you are needing to use financing - get pre-approved before you begin looking - good luck

Once you pick up your drawings from Planning go back to the Permit Intake department for Zoning review and a possible approval.  

However, navigating the legal and financial complexities of Subto deals requires careful attention, so I’d recommend working with a real estate attorney to ensure everything is structured correctly.Securing private money for the closing is a smart move, but ensure your terms allow for flexibility in case of unexpected repairs or delays in cash flow.

@Robin CastilloLLCs are useful for legal protection, but they require separate tax filing, typically cost several hundred dollars to create, and most non-commercial lenders will not lend to LLCs.Commercial lenders will lend to LLCs, but their interest rates are significantly higher and they require collateral that regular lenders don't.I would not create a LLC specifically due to the issues in getting a traditional mortgage it will likely cause.One potential route though, is to get a traditional mortgage in your name and then assume the loan after a 6mo "seasoning" period with your LLC.

Establish a solid reserve fund (3-6 months of rent) to cover unexpected expenses or vacancies, which are inevitable over time.Make sure you're well-versed in local landlord-tenant laws to avoid legal complications.

All deals must be approved by the BK judge, who has a fiduciary interest in getting the highest price to satisfy the creditors. 

I’m pre approved or have a line of credit in place.  

Greensboro also recently approved some new ADU friendly zoning rules to encourage denser housing.

I would not be confident the PM has a good legal option if they served pay or quit so late.