Ask him for an extension.

You can do a simple one-page lease addendum for the term extension and rent increase.

I'm going through the same thing.Truely the only way to do it is with the units vacant.For instance how if the units only have 1 bath do you retile the floors,install new tubs etc.You can't leave them without a bath or toilet.How much do you intend to hike the rent?

I had to get three extensions because Jordan Capital could never get things in place for the closing date.

Luckily, we operate our own management company and have been compiling an extensive packet of materials to share with investors.

thanks @Christopher Phillips for the info - i just checked with my bank - the RBC bank and they do have a mortgage solutions for the properties in the US, i called for an appointment,but is this the best option, for instance what if i try to start a company based in the US - a local LLC, would it be easier (or cheaper), do you have / or heard about the abroad investors using the local US solutions for finance their business in the Statesdon't get me wrong - i don't have any problems with my credit score nor with the financial institutions in Canada, i'm just looking for the best deal...

For instance, Kansas City, taxes are much lower and our PM is 8%.

maybe folks in that instance don't drive as nice of car  and or eat out as much.. forgo their 100 dollar a week starbucks habit or give up smoking.. and still buy homes..

For instance, if you are a high earner, especially if you live in a high tax state, you get to buy a property for relatively little money down, get tenants to basically pay off the loan, and in the meantime you get to deduct not only the actual expenses, but also this imaginary expense called residential real estate depreciation. 

For instance, I saw a home in Ohio that was selling for 60k when the market only supported 35k maybe 40k in a so called B area.