The sale proceeds likely won't fully cover my loan.I have a few questions: What documents will I need to complete the buyout of the first lender?

As noted, if your options are Reg D, private offering vs fully registered public offering, even if you are talking Pink Sheet (OTC) stocks, you have public filing costs, annual audit requirements, and likely more on-going expenses that have to be covered by the property(s) owned by the offering.  

Because it is always changing, but not always warming.....gotta cover your bases y'know.... 

That said, if your insurance doesn't cover certain breeds, then you need to deny those breeds - until the law is changed or you find a different insurance provider who will cover them.There is definitely a law about dog bites, though.  

Assuming you don't have a mortgage that requires a certain level of insurance, you can get a stop-loss policy covering all the properties. 

You would  then alert your insurance to it and it will go up but you would be covered. 

We had a discussion about the costs I have endured and the low ball offer to cover expenses for going 5 months past contract deadline but haven't heard back. 

Moves risk to be financially covered by insurance hypothetically.

It's a small place so I'd guess it won't rent for enough to cover your expenses anyway so I'd probably sell, especially if the loss is small, it unless it's in a great neighborhood that you think will do well over time. 

By providing the necessary funding and covering renovation expenses, we ensured the project stayed on track and within budget, leading to a profitable outcome.