When the market does drop, the hedge funds have very, very fast trades that happen before you can pick up the phone, leaving the small investor holding the bag.

Their security deposit is enough for me to claim unpaid rent once they leave next month.  

Have made contact with owner's brother, but don't know where owner is.My general idea has been to try and skip-trace the owners or their next of kin and see if we can arrange a short sale to net them a small proceed instead of leaving the property vacant. 

a wholesaler who is trying to sell you the property is going to leave out the "expense reserves" you mention because it inflates the "Cash flow" and makes you more likely to buy it.

@Derek Luttrell besides an inherited tenant not paying a months rent and leaving the place a relative mess, he’s been fine.  

I get all the perspective and thanks for sharing; so I can assume that the guarantor requirement is going to stay regardless and there is no avoiding that until we have some "skin" in the game....?

You are not in the future and hustling your $20k together can be done without leaving town.

@Aundre Oldacre - you may be able to find a bridge type lender that will allow a bit of cross collateralization but make no mistake, you will have to put some cash skin in the game. 

Or close on the place, do a few most important things and then hopefully resell for just enough to come out with my skin on? 

If, according to your local laws, the unit is considered abandoned you are usually ok to change the locks and begin looking for a new renter. typically this may included removing all items, leaving keys on counter, or canceling utilities, but it may vary state to state.