Then you have the buyer pay a release fee on a separate contract release agreement. 

Seller won't be able to sell until you release it. 

When you do finish paying off the deceased, you will have to get a release of lien from the estate.

If your lease doesn't permit early termination, then you negotiate,, you offer tenants money to release them from the lease, who knows could work out great maybe they are thinking of moving out anyway,,, you won't know until you check, but be prepared to pay for what you want. 

., first draw to cover purchase price, then release funds upon completion of the rehab stages.

Steps needed to do follow in order to do this: You would have to close the loan in your name firstProvide the bank with a copy of the LLC documents so they can be reviewedOnce bank has reviewed and accepted them, you would have to have an Attorney draw up the assumption and release agreement and have it recordedThen you could have a new deed prepared and deed it into the LLC.Blog, GuidelinesThis falls under the exceptions:a limited liability company (LLC), provided that the mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, and the LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12-month occupancy requirement for a principal residence).

@Gene Hacker  the lesson here is proper procedure when tenant dies... yes there is one, and if it had been followed you could have protected your property better.You are not required to turn over any property to anyone without confirmation of whom is the deceased estate representative, A landlord responsibility is to secure the unit, change the locks, and post on the door that keys are available from management,notify emergency contact that this has been done if there is one,  and release property to representative with that has proper authority to take deceased's property,, the estate is responsible to pay you the landlord any unpaid rent, and give notice for termination of occupancy. 

Jude, the accompanying revitalization of the Pinch District, the renovation of the Memphis Cook Convention Center, the Fourth Bluff revitalization projectand the redevelopment of Mud Island.Rick Shadyac, CEO of ALSAC, and Sarah Hall, ALSAC chief legal officer, attended the council session as a step toward applying for an expansion of the existing tax increment financing (TIF) district east to I-40 and bounded by Jackson Avenue and Poplar Avenue to include parts of the Medical District, and an amendment to add Mud Island and the riverfront to the Tourism Development Zone (TDZ), all to help fund the Bicentennial Gateway Project.For details, check out the city's Bicentennial Gateway Project presentation.City Council's potential next step would be to authorize Memphis Mayor Jim Strickland to submit an amended TDZ application to the state.The application for TIF expansion will be considered by the Shelby County Community Redevelopment Agency board.Memphis celebrates its bicentennial in 2019.

Is it common to have a re-leasing fee?  

Or, throw smaller communal events to celebrate one person reaching a special milestone, which will help motivate others to do the same.