For a fully stabilized property with a loan amount of 800-1,000,000 up to 6 million, then Freddie Mac or Fannie Mae small balance commercial loan is the best terms you could ever hope to get.

I had my team assembled and ready to go before I ever put in my first offer. 

Was the property ever simply listed.  

There is documentation showing the negotiations of the sale, the offer and counter-offers, the acceptances etc... however no Bank Approval Letter was ever received. 

Best case scenario you downsize into a duplex or triplex and live “rent free” in one of the units.I don’t know your market BUT the biggest risk I’ve ever seen anyone take is NOT taking any

Anyone ever gift property to a non-profit.

Unless you were speculating on appreciation, which you shouldn't ever do.

Has anyone ever faced this?

I read rich dad poor dad a while back which sparked my interest in real estate but nothing ever came of it.

I don’t want to make this mistake again although I also hope there will be no more heroin addict ex-boyfriend‘s in the picture ever again (I inherited her in the building, I already do background checks on everyone new and I will for everyone I inherit from now on).