It can take on many forms, including reduced principal or debt forgiveness, lower payments traded for an extended loan duration.

And thus, if OP doesn't plan on staying in Wisconsin much longer, it doesn't make much sense ramping up a direct mail campaign of sufficient size and duration to sustain a wholesaling business. 

Amounts spent after a casualty to restore the damaged property.The cost of extending utility service lines to the property.Legal fees, such as the cost of defending and perfecting title, or settling zoning issues.

(b)Escrow accounts—(1)Requirement to escrow for property taxes and insurance.Except as provided in paragraph (b)(2) of this section, a creditor may not extend a higher-priced mortgage loan secured by a first lien on a consumer's principal dwelling unless an escrow account is established before consummation for payment of property taxes and premiums for mortgage-related insurance required by the creditor, such as insurance against loss of or damage to property, or against liability arising out of the ownership or use of the property, or insurance protecting the creditor against the consumer's default or other credit loss.

All is good, most leases say something along the lines of if they expire they'll extend month to month and the tenant just needs to give 30 day notice or something to stop.

It's rare for a flip to go perfectly right (especially if you're a 1st timer or if your project needs a permit or your contractor/partner screws you over), and we've had to extend/refinance a few times. 

I prefer states where my children are, so I have a reason to spend extended period there, and able to spend time with the kids too.  

I would get out of that property as quickly as you can and go put your money to work in a good property, otherwise your just extending the loss and pain.While I'm not an attorney, and I'm not giving legal advice, It's very common for bad properties to attempt to make things look nicer than things really are, as they want out.

DP: There are a few key issues or gaps here.First, a landlord policy carries what’s called “premise liability,” which covers bodily injury at the premise only.It does not extend beyond the premise.

@Richard MorenoThose properties are good; however, you will have to make sure your margins fit the holding period, which will be extended due to the eviction process.