They’re looking for a short term 6 month lease option which will work well for me as their lease will be up in the summer if they decide not to extend.

I asked to extend the closing date with the buyers originally, but they refused stating that they were concerned with losing their mort. and not closing in time. 

Meeting online with introductory posts followed by additional posts to Facebook groups help us develop a sense of familiarity for one another.Some investors organize weekly meet-ups and extend invites to group members.

(Unless they extend it before thenIt seems whenever I see deals from wholesalers, they tend to be cash only or out of my price range single family homes .

I found out that the lease extended till end of 2021 and I did not feel comfortable  going in without any kind of proper paperwork

The question becomes how to be very strategic about putting the HELOC to work without over-extending ourselves or depleting our cash position.

@James Mc ReeThank you James , Funny part is , just a week or 2 ago, he asked me if they can extend their lease for another year .

I was lucky enough to be able to negotiate and extend the balloon terms, but it was certainly a stressful situation.

Also prepare with additional funds in reserves for the fees you will have to pay to extend the 203k loan past 6 months.

I also told him in the first email that he gets the benefit of the doubt with me specifically due to the fact that he is a veteran.I also told him that if he did not pay rent, I was not able to cover both my mortgage and the mortgage on the rental property for an extended period of time, without enduring a financial hardship, and that it could possibly be foreclosed.