Next, you can partner with others to find a deal that your combined incomes qualify for? 

You are now experiencing first hand why you don't do a number of things/mistakes you made...that I can see so far:1 - NEVER combine the lease and the option into one contract2 - Never give rent credits towards the purchase3 - Your tenant/buyer agreement should be for 1 year...not longer4 - The "upfront amount" isn't lost. 

Put laundromat on back burner for next year after apartment is stabilize open a HELOC on my primary residence and use combination with cash to purchase first small apartmentExit strategy use rent to pay HELOC monthly payments and then after 12 months refi property and pay off remaining balance of HELOCFEARS:1)When I open HELOC and pay for part of apartment what if I over leverage my HELOC.

Bump up repairs and CapEx to at least 15% combined.

@Reinaldo Lopez we do them twice a year and combine them with basic maintenance.

We have combination of all: rent reduction, rent deferment, late payment and so far we have agree verbally with tenants only.  

Both units are currently occupied, with a combined rent roll of $1,500 per month.

Both units are occupied The combined rent roll is $1,500 per mo.

Lots of combinations here.The best scenario is to sell to a broker who pays cash and knows in advance that he or she will find the end buyer.

I'm not opposed to setting up my books properly from now on, but am afraid it combined with the late filing will trigger an audit.