You have to pay attention the cost to extend to loan.12% is very reasonable.

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Last year I did 3, but the 3rd one would have put me into new tax pain, so I extended the closing to this year. 

Ask for their stamp of approval before releasing final payment to the contractor.RENT 14.

Your monthly PITI should be lower since you're extending it another 5 years. 

If you buy them and assume a mortgage you MAY be able to get the lender to do a partial release if he feels there is enough equity in the remaining units.

I agree with James, if that extends your time to invest you need to have reserves anyway. 

In those cases the cost of money and risk profile changes for the lender so amortization, amount down, interest rate, length of the term of the loan might all change.You might want to extend due diligence and contingencies if it is coming up soon.

Seems like your goal should be to calmly communicate with the listing agent (or their managing broker) and find out the status and either proceed with the deal based on your last agreed upon terms (which you seemed interested in) or to get your escrow released.