Are there any consequences I should be aware of?

In my experience it is the tenants that push for these laws and then complain at what seem to me to be fairly obvious consequences.  

The nonsense that DSCR loans do not matter if they are not on a credit report and the advice above has real consequences on borrowers ability to accomplish their goals for investment but also ability to buy their next primary.

I previously posted questions on this channel about lending money on the paperstac platform. Decided getting the licenses to be a lender in different states wasn't worth it. However, my question is, what would/could h...

But I do wonder about the legal consequences of it.

That would be his issue with his lender.You would have the option of forcing him to complete the deal, he then has to work out the problems between himself and his lender, that is none of your problem or business.Have your attorney or the real estate agent's broker send a strongly worded letter as a warning about the consequences ( a lawsuit he is unlikely to win).

For a conventional mortgage, at closing, the lender wants you to maintain a homeowner's policy and so I'm trying to understand the consequences of changing the policy post closing. 

The other issue we have going on when you compare us trying to build and the big boys, they build cheaper and faster and get better pricing.. the only way my project works is I am doing semi custom working with the buyers at a level the big builders simply wont do  its a hybrid and consequently we are getting 50 to 200k more per house sq ft being the same but it cost us more to build and takes us longer..

You want an accountant that can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.

Trying to keep an existing tenant often produces more trouble than it's worth.To answer your original question, you should absolutely give them a deadline and a consequence.