Additionally, to theextent permitted under applicable law, Landlord may recover from Tenant Landlord’s court costs and reasonable attorneys’fees and expenses incurred in connection with any legal proceedings against Tenant.To the extent required by applicable law, Landlord will use reasonable efforts to mitigate any damages resulting from TenantDefault.

I am not too worried about the basic lipstick rehabbing but I will definitely need to hire contractors for the more complicated repairs: plumbing, electric, roofing etc. 

If the contingency was legally fulfilled by you, then there is a breach of contract.

I have a legal business in the U.S. that has been open 1.5 years and I'm wondering if anyone has any good recommendations for a personal or business loan that will give me the best rate for this purchase? 

I am in a time crunch as I assume I can't list and show the property until I have the legal framework established.

If you can find a legal property, an STR can be lucrative, but be sure to do your homework.  

Can be severe penalties just like city STR restrictions, maybe $100s/day and legal expenses to force compliance. 

Ok, so don't mind me - I dropped your whole write up into Chat, and this is what it came back with for me:Let’s dive into the numbers together and see what we can work out about this owner financing deal you’re considering.First off, the idea of selling the house at $315,000 when its market value is around $260,000 definitely swings in your favor financially.

. - Make sure you are surrounded with pros who's taking care of your financial compliance, SEC compliance, IRS compliance, legal compliance, etc. - Understand syndication structure that you want to offer.

Interview a couple of management companies and get their income projections, but definitely be conservative.