NEXT I would have some big teeth in it, that would be IF rents are missed for a term of 29 days that all rent discounts are forfeited and the full rental amounts are due on a regularized schedule going forward.

If you break the contract you forfeit the assistance money and must repay it.

Here’s the applicable law from your state:TENANT’S RECOURSE FOR WITHHELD SECURITY DEPOSITSIf the landlord does not either return the entire security deposit or send an itemized list of deductions, along with any remaining portion of the security deposit, within the required time period, the landlord forfeits all rights to withhold any of the security deposit.

If the owner hasn't paid taxes in 3 years has the property already been forfeited to the county for the upcoming tax auction?  

I think by your cousin allowing the showing of the property those few times, he indirectly signed off on the house being sold and forfeit any lease termination payments to him.

My lease explicitly says they forfeit the deposit for early termination.

Thank you to everyone who takes the time to read these posts and share their experience.My question is what would motivate a seller to use seller financing to sell their primary residence using seller financing when it would generally forfeit their exemption from paying capital gains tax?

Hopefully no drama, since the seller is the ex-husband, and the tenant-buyer is the ex-wife, there seems to be some potential for drama, but I would have everything spelled out in writing.Of course if she doesnt exercise her option, or fails to keep up with the terms of the lease, she would forfeit her option, and I would still own it.My problem, I dont have the funding to buy a $43k house.Any ideas?

Should of have them sign a receipt or something forfeiting deposit if they don't perform and move in as scheduled.

If this were to happen, any moneys you spent on the flip would be forfeited.