This is the first that I've heard anything about them refusing to complete the rehab. their usual response is to stall and put people off.

Larry's into horses or horse showing or something like that - Elizabeth is a cool older eclectic gal - (our family lived in one of her furnished rentals for a month and a half when we came here)

That aside, as I dig deeper, and delve further down the rabbit hole, it seems to me that this "acquire subject to and lease option" stuff is an REI Trojan horse.  

I had an agent friend trying to buy an REO, got stalled by “title problems” no timeline to cure......a quick search of the foreclosure file showed they forgot to name a junior mtg in the foreclosure...they were going back into court to vacate the foreclosure, start again naming the junior mtg holder, yada yada.....6 months minimum.

Stall your tenant till you have a HOA decision.Alternately you work with the HOA to move their decision along as fast as possible.

By the way you spelled licenses wrong, might wanna use spell check when calling out spelling, but who cares right.Anyway this horse has been beat so have fun protecting the pedophilez!

or cash.. and scoop the deals when and if that time comes around again. but I think its fair to say 08 to 2012 was a very unique set of circumstances and other than a one horse town or one mill town or one main manufacturing town.. were the mill or plant closes and real estate tumbles.. we just never saw such a wide spread loss of values.. 

in other words, if the access freely awkward, and there isn’t enough natural light, and it’s right up again st all the neighbors, it would be hard to sell it.

You will never get a deal done if you put the cart before the horse.  

And lets face it I think the subject at hand is a horse if not  beaten dead ... then close to it.