In the process.... then the 2nd floor tenants both have job issues and are at least a month behind, 3rd floor tenant left after not paying last month rent and remaining 3rd floor tenant also a month behind.

So if they are "month to month" then that might change the outcome if as compared to if they have 10 months remaining on the leases. 

I know if it remains a rental then of course they pay rent until we find someone new.

Just make sure you have enough room in the investment for an inflating interest rate if you decide to go the home equity route.Brandon

Just an FYI prices are inflated.

Many deals we see from wholesalers have inflated values, under estimated renovation costs and occasionally include multiple wholesale fees that can reach 10-15% over the contract price.We, and our partners, would buy deals in LA with a 10% ROI, however many that are brought to us with that return expectation, turn out yielding far less once we underwrite the project internally.My suggestion to you, if you haven't done so already, is to close, rehab and sell a few on your own.  

It's been updated to natural gas but the tank remains.

These have to be separated in a sub panel so the neutral remains the current carrying conductor.  

If the developer has not developed anything in the past 3 or 4 years and only owns the remaining land is he really legally entitled to the president position?  

Documents you will sign after the Approval Letter is issued will include an Arms Length Affidavit which will state, among other things, that there are no undisclosed agreements and usually specifically that the owner will Not be allowed to remain in the house and/or rent it from you.