I would suggest just getting an extension to the closing date with an addendum.

I've had extensive experience in residential remodeling and management of my family's rentals but have just recently become interested in investing by chance.

THe area has a lot to offer; some areas are very good for the Philadelphia market due to the North East Extension others are excellent for the NYC Commuter; a very diverse marketplace.

You are essentially treating 25% as an extension of your own residence.

The flipper had worked extensively with the broker on purchasing flips, so I knew he was investor-friendly.

They want to stay several more years.Do you kick them out and put it on the market for $1500 or do you sign a 1, maybe 2 year extension?

This would mean a loss of the current revenue stream; at least one month of vacancy for the renovations - likely more by the time it was rented;the cost of the renovations themselves (which would be fairly extensive); and the purchase of new appliances (tenant provided their own appliances).

And codes have changed over time, so touching something may mean more extensive changes than you expect.

Step 1 - Create an extensive cash buyers list with the specific criteria that each buyer is looking for.Since you have already signed the contract, you want to start escrow with a title company.

This took about 4 days with 2-4 workers and had extensive wood damage.