Since I was planning on investing anyway and needed some good tenants, I saw a need that I could fulfill. 

If the lease is longer term your answer may be decided for you as you will need to fulfill that lease. 

As long as you could fulfill the other requirements of the second home at least.  

Are they intending to fulfill the current lease? 

The tenants signed a lease so they are obligated to fulfill the terms.Your lease may include additional penalties, but at a minimum the tenants are responsible for rent, utilities, and other responsibilities until a new tenant takes over.

My best non-lawyer guess would be he is not responsible because he fulfilled his obligations. 

It's both wishful thinking and even if fulfilled, the potential home value has to be sold to be realized.Now, that being said, I don't know when you started to look in the summer, but middle of winter is historically the bottom of inventory.

@Cristian GaribayCristian, based on what you mentioned it sounds like your friend has two needs:1- get the home equity2- keep the current tenant housed It sounds like you would be fulfilling those requests.

I thought soon as I bought a property, the contract has been fulfilled but apparently not…When I requested to be Mutually Released from the contract, the agent refused, saying that they were able to get me a property and will continue to do so until the life of the contract.

But then I will still have to deal with legalities to get her out if she didnt fulfill that 07/03 timeline.