Then we had to come up with 60k to do the repairs(we expected to be able to use the the loan proceeds), and then afterward, have to wait for them to release the funds.  

It will release me of ownership and rental cssh flow.3.

The only way is that if I take it subject to the potential debt and the title company cant issue title insurance with the note being released.  

What are your prospects for re-leasing the building? 

Start by reviewing IRS’ News Release for the specific disaster, which is available online in the IRS Newsroom.

I've come across a potential deal with a local landlord that is sick of land-lording and is interested in releasing the 24 units he owns outright.

They had held up my release of funds for over a week after signing while they waited for the invoice and then paid it and closed out my account the day they received it. 

Lease options don't release you from landlord laws.

Ah, and how could I forget, the agent has to sign the LBP disclosure form which is required for the contract anyway so... any reputable brokers office would not release a contract to title/escrow without that form.As previous posters said, you're worrying too much.  

He toured a unit that we have ready for rent and agreed to releases the CO with some minor modification.