I'm shocked he's being released and I would want to know the full criteria: Does he require supervision? 

Revenue can be doubled by releasing with a market rate NNN lease.Warehouse can also be demised into two spaces to allow for tenant mix and higher rates.

The only problem I am coming up against is that to sell the land, I'd have to have the lender release the lien on the new lot so that I could sell it, which I am told they are hesitant to do since that leaves them with collateral that is worth less than the loan on the property (This will be my first investment property.

Because you're looking at one of the strongest corrections in the market that will most likely hit when they start to release all of the inventory back out on the market with the distressed people.

I would make sure you know all the subs that could have been on the job, if they were also not paid they can put a lien on your property for non payment even if you had paid the GC already unless there was something in your contract about receiving a lien release at every payment.

Something worth looking at.CFPB Issues Rule Affecting EvictionsApril 21, 2021 by NARPM AdvocacyThe Consumer Financial Protection Bureau (CFPB) has released an interim final rule that would, in their words, provide that .....debt collectors, including attorneys, seeking to evict tenants for non-payment of rent must provide tenants who may have rights under the CDC order with clear and conspicuous written notice of those rights.

Once the new renter takes over, you have to release the departing renter and can only charge them rent up until the new tenant took over.

In a chapter 7 Bk the borrower can be released from the note meaning they are not responsible for the debt but the mortgage is the collateral which still gives you recourse to foreclose.

I'm looking for some kind of release document that I can have a potential tenant sign that will allow a previous landlord or management company or CDA to share rental history with me. 

Most lender will also want to see that you have money left over after all closing costs to start making your interest only payments as well as potentially have some reserves to get the rehab started before they release the first construction draw.