I'd be surprised if an escrow agent and/or title agent would be willing to close and issue title insurance on a second contract with knowledge of an unreleased prior contract. 

We filed prior to Apr 15 and got a refund already so I don't think there is a general delay. 

This works out OK because your purchase was based on the current condition, so you are in effect not paying for the damage done prior to purchase (the previous owner basically paid for this in accepting an offer than was based on current condition).Good luck

Also if its a more complex property (multi-family) make sure to do your due diligence to ensure prior to closing that everything is OK (i.e. everyone paying rent, etc.).  

We have pictures of residence prior to the occupancy and the initial walkthrough inspection report. 

They had decided to deduct from their rent two months prior to closing because apparently the owner took too long (48 hours) to fix the water heater which was not properly heating.

House was a foreclosure and I negotiated with the bank for purchase (including allowing inspections prior to finalizing offer).

Prior to listing, maybe, but once they're in the full services of an agent, I don't see it.As far as rates.

If that is the case, they need to pay May's rent amount as you can find a qualified tenant, if the unit is ready, to move in prior to June. 

These are just some of the questions you need answered prior to investing.