If you currently still owe @ 265K, then they would deduct that to pay your current lender (PNC) and you would be left with @$61K - $83K, which you could collect as cash in hand.

Given we will be living in one of the units, we won’t be collecting rent from that unit and as a result, our return is cut dramatically.

I suppose if I had met you and you were willing to put 10 months into irrevocable escrow, paid out to me each month (plus I would collect first/last/deposit), I might consider it, kind of along the way we will sometimes allow college student parents to pre-pay for their kids that they've co-signed for in a unit, if we had a unit that was proving difficult to move.

Then you act as the bank and owner finance the property to someone else, while collecting a down payment? 

In my state, I could keep their security deposit with no problem, I could probably also win a law suit against them but collecting is another matter. 

The people I met, the questions asked, and the resources available in my local area - they are already reshaping my idea of what investing will look like for me. 

The way the contract is currently written by listing agent is the seller wants me to take possession and close 29 June yet the seller is to collect the last 30 days of rent which would be July's rent assuming a 30 days to vacate notice is used. 3.

I already have a property management softtware i use to manually collect rents. 

With all the information out here, I need to sift through all the BS. and I was told this is the best resource.

It's absolutely silly that you wouldn't be allowed to collect on a debt of past due rent.