This new "local agent" requirement has given me pause as my property manager has informed me that they will not be signing off on this.

It's difficult to see how a tenant will be after screened and signing a lease.

Depends on the operating agreement and docs you signed.

The loan officer didn't care about the LLC, just said there would be additional papers to sign.

We don't have them recorded, just signed as another layer of protection. 

Go to Dennis Block's FB page and sign up for his webinar Friday at 10:00.   

I agree that working with people is easier and more cost effective than the alternative.As I read this, I'm considering creating a Cash For Keys written program that I can give my tenants at lease signing to remind them to come to me rather than just stop paying. 

Before you sign anything, definitley pin down the timeline for permitting and building.

I suggest your next lease have such a clause and that you make sure you can find the lease (but i have also somehow lost a lease recently).For where you are now, without a signed copy of lease i believe your options are limited.  

Instead, shut off the water to the toilet and place a sign on the door "Art exhibit: Non-functioning bathroom."