@Mat O'Grady hosts the meeting.If your interested let us know.

Lot is 168x150 (feet) with a little house generating 400/m at the moment and the lot+home is valued at about $55,000.

Most of the time its the seller purchased too many properties at the same time and was cash strapped to complete the rehab because they over extended themselves and didn't calculate the rehab draws correctly from their hard money lender.

How strapped are you for cash to keep growing your portfolio? 

I told him that he didn’t have to do that but he said that the straps were inexpensive and it would only take him half an hour, and that he insisted as his favor for missing something in the report.

If it was the buyer, you probably won't have an issue doing something different, if you brought it up, it might be sticky as you should have disclosed the matter before going there with the details of the proposed deal.If you have a business entity in title, a transfer of the entity would be less stressful, but your attorney should consider some of the deeper issues, you staying in that company can be arranged with your interest being changed through the operations side and control going to the new buyer/partner.Well, this is evidence that lenders do care and may be willing to go to the mat with the due on sale that many want to ignore. :) 

It's never a good idea to be cash strapped but understanding the finances the options is crucial to investing.

I agree, but said optionor has to take less for the property, not likely, unless financially strapped.3.

Plus who is to say they don't just go to a laundry mat. 

Quote from @Mitchell Mattingly: Although not agent-specific, I just finished Real Estate by the Numbers by J Scottand Dave Meyer and it's now my favorite BiggerPockets book.