Let me start with this:in HUD's Single Family Housing Policy Handbook updated in 2015 it says this: (Straight out of their pdf edition on the website) (i) Time Restriction on Transfers of Title The eligibility of a Property for a Mortgage insured by FHA is determined by the time that has elapsed between the date the seller has acquired title to the Property and the date of execution of the sales contract that will result in the FHA-insured Mortgage.FHA defines the seller’s date of acquisition as the date the seller acquired legal ownership of that Property.

Additionally you haven't calculated taxes properly.

After executing a contract with a seller and passing the inspection period the title search turned up a second mortgage that puts the seller under water on the property by something in the neighborhood of $50k.The contract was in Florida done AS-IS.Do I have any ability to force the sale to be completed and acquire a clean title?  

A properly structured contract would allow you to take over conttrol of the project without foreclosure by shifting the beneficial interest from the investor to you as project milestones are missed.I realize this suggestion comes a little late in the game for your current situation, so give CRR a call, but before the next time look into using a land contract.

In October 2014 I opened the doors of my executive suite business.  

If 5+ acres then what is your plan for all that extra land, and do you have the money on hand and the local regulatory environment mapped out to execute that plan?

We have a signed, executed lease agreement and did not mutually agree to terminate lease.

My guess is that as long as you make all the correct repairs and pull the proper permits, it won't be an issue.

Only a fool would attempt to defuse a bomb with simple step by step instructions without proper training.

Is it zoned properly?