Now that it would be a short sale, you'd have to get the auction postponed, which would take presenting some specific documentation to the judge at a hearing.  

Account ClosedI do more renting in that space than flipping.At sheriff sales, about 1/3 are postponed, and 1/3 are cancelled, leaving only 1/3 left at the actual auction. 

Steve, pretty much, no more hurry up loans, settlements will be postponed to ensure compliance.

Not one to take baby steps I am under contract to purchase three quad plexes from two different owners in Gainesville, FL using conventional mortgage financing.Everything was going perfectly until I ran into one small issue that I am not sure how to overcome except for postponing the closing.  

What are the chances a bank postpones the sale this close?

That sucks and postpones your cashflow.

Offer the bank 30k, request the foreclosure be postponed, keep in mind you can't do that until the short sale is "in their system" usually assigned to an asset manager, negotiator or whatever, Chase is using.

And thank you for letting me know about the postponement on rent control. :) Thanks everyone for your help!

I'm getting frustrated as a beginner , I'm trying to start wholesaling but every time I get a deal it always gets held.

Thank you for the input guys, I think that for now I will postpone the turnkey until I can study more about this.