So, did you have a HML involved and were going over the deadline?

I hope you make your deadline, but caution you to make sure you're ready.It is great that you've decided to make BiggerPockets your Facebook for real estate (CBS News actually called us that), and I urge you to ask as many questions as you can to help you prepare.Meanwhile, please take some time to read our Ultimate Beginner's Guide to Real Estate Investing, as you'll find the info and links contained within it to be invaluable.Let us know how we can help you be successful and welcome to the community!

How can I make this deal work for me since I definitely do not have that kind of cash and the deadline is 3 weeks away?

HUD is very picky about every detail of the paperwork being exactly as they want it, and they also have tight deadlines, which often means collecting buyer paperwork and overnighting packages within hours of getting a bid accepted.Btw, if the paperwork is a PITA when I'm representing myself (where I've used the same documentation over and over and I'm easy to work with :), I can't even imagine how frustrating it would be when dealing with a typical buyer who probably isn't very on-top-of-things.And that's just paperwork part.

I would buy or go under agreement from them again, but I will never do it if I have to meet any sort of deadlines in regards to flipping the home or renting it out.

Ask about their work habits, deadlines and quality.

Be sure that if there was some purchase deal for the tenant, that the tenant declines it in writing, and that the offer has expired / passed any deadline for acting.

Also, I added a 3 years purchase deadline if I accept the offer with my request.At this time, 18% of the 10k building is available for lease with no letter of intent pending.

Did you miss a deadline to extend?

Per my realtor's suggestion, I signed a demand to close Escrow; deadline is today.