I would have to  place al of faith in my contractor.I need to get in the right mindset to take this leap of faith!!

Borrowers like this lose all credibility with me and I have no faith that they'd hold up their side of the bargain even if they came up with a good plan that was a win-win.

Plus I hate the notion of selling one over-priced asset just to turn around and buy another overpriced asset given I have no faith in my ability to select counter cyclical asset classes.If I had a shaker operation or I was just sick and tired of the landlord process (even as passive as mine is) I might feel a bit different.  

Now that our new property manager has explained they’ll have to pay rent once the issue is fixed (imminent) they are now saying they will be out in 30 days (and we would refund the damage deposit if the place is in good shape), but we have no faith they will actually vacate.Any advice on how we approach this situation?

First thing you have to do is have faith in your intelligence.Think on your own and use your awesome analytical powers to dissect everything you come across.Then write down where you want to be in 3 years.

Due care, loyalty, honesty, confidentiality, good faith, disclosure, etc.He's right that agents ask for buyers to sign a "Buyer's Broker" agreement to ensure that if the client buys a property, that they will buy it through that agent - the agent who has most likely invested significant time, effort and expertise with no assurance of getting paid.  

The language for the loan approval in the contract basically just says the buyer has to make a good faith effort to obtain the loan commitment within 45 days of the contract or 5 days before losing, whichever is earlier.

Sorry for the long winded answer but the long and short is you have to be either willing to put yourself out there if you want to do the work, or put your faith in someone like me a property manager and real estate agent to make the investment work for you.

The second part of the statute is in there to declare that all real estate contracts produced to meet this burden of proof that do not show 1) "good faith" and 2) "for a substantial consideration," both of which are standard introductory elements of a correctly drafted real estate contract, are "void and ineffective in all cases, suits, or proceedings had or taken under this chapter."

@Nathanael Rojas maybe this method works for a company or a person that has a lot of cash to close deals, but it's horrible advice for someone just starting out.If an offer gets accepted you are legally saying that you will make a good faith effort to close on that property.