It takes longer than the average DD period to get a formal thumbs up from them on the loan.  

We've already secured another lease (friends of ours) and we've made it very clear that they must be out by the date and time the lease expires.So, given the circumstances above here is my question:If they are still there the day after the lease expires, can I enter the property and take possession without going through a formal eviction process?

There is no formal agreement, no papers signed, nothing like that. 

He told me that we can't do that and that it is a partnership.In looking at the IRS definitions it states:PartnershipA partnership is the relationship between two or more persons who join to carry on a trade or business, with each person contributing money, property, labor, or skill and each expecting to share in the profits and losses of the business whether or not a formal partnership agreement is made.The term "partnership" includes a limited partnership, syndicate, group, pool, joint venture, or other unincorporated organization, through or by which any business, financial operation, or venture is carried on, that is not, within the meaning of the regulations under section 7701, a corporation, trust, estate, or sole proprietorship.A joint undertaking merely to share expenses is not a partnership.

I think you are referring to "cash for keys," be it through a formal rent control method,  or through ad hoc agreements with the tenants (cash and free rent for "x" period of time, etc..).

Both rented and positive cash flow.Subject Property:  Traditional detached SF property in NJPurchase amt 410k10% down (don't have funds to do 20% unfortunately)While I am confident in my mtge guy, for prudent measure I wanted to check w/ the BP community to confirm the following..Freddie:  'My income is too high' (Can certainly give figures, but not sure how to break it down.. 2017 salary + bonus; Rental income, 2018 salary formally approved and documented, but not effective until July; and 2018 bonus (which I have received already)FNMA:  'To get a second FNMA mtge, I need to put down 20%' (which I would like to do, but cannot come up with an extra 41k)FHA:  'My only option' (with the 1.75% upfront PMI and monthly PMI for life of the loan). 

How do I formally end the lease?

@Bill Baldwin You may want to file a formal complaint with the state licensing board as well as the board of realtors in the area.

I have never responded to a formal RFP before so this is all new to me.

Being GCs ourselves, when we go to check out a property we know everything there is to know in 30-60 mins on site, so no need for a formal inspection.And it helps big time.When we sell B-C, the ONLY offers I will even entertain inspections on are retail MLS sales.