the entity has to take title but the bank wont lend to the entity.

one thing is for certain its still quite difficult to get development loans.. and spec loans are still quite tough and not really available to those without experience.I did the first horizontal loan 2 years ago that my commercial Oregon bank had done since 06  :)  plus our banks just wont let us get way out over our ski tips they will only give us 12 to 15 spec loans at once.. so only like 5 to 6 million at a time..  

I honestly am a bit worried that since the leases are expired that section 8 wont renew at a higher rate unless I sign a lease.

I wont be back to the area until April, cant wait to explore more! 

I don’t understand how that’s relevant when the tenant destroys the carpet.

The "rush" for finding longer term housing wont kick in for at least a week or two....right now, people are still in shock and have no idea what the status of their previous residence is.... no one is really thinking "where am I going to stay for the next 6-12 months?"....

I wouldn't accept cash, because you wont be able to prove payment or lack there of if something goes wrong. 

I like the idea of the 4 plex because of the ability to house hack (and get residential loan interest rates), easier exit strategy than a commercial property (anyone can buy), and having multiple properties instead of all my eggs in one basket 20+ unit apartment (ie if a tornado destroys one property vs destroying my only property). 

I would send them notice of three violations. 1) lease says no pets...get rid of the cat before it destroys the property.2) stop smoking on the property or face eviction, offer to release any smokers from the lease.3) cure the insect infestation immediately.Inform them you will me making regular inspection visits and expect the issue to be resolved.Your other option, if you have no desire to inforce your lease is to tear it up and write a new one that you do intend to inforce.

Tenants always just destroy the carpet. basement