I've never had to use hard money before, so I am not sure what type of conditions are reasonable.

It also depend on the condition of the property. 

I'd likely just agree to break the lease with a couple months of rent as a penalty rather than force these people to continue being tenants in my property....you never know what will happen to the condition of the property.

What makes you an expert that the unit is in a great location & condition and the market is hot, relative to the property manager?

Since your condo prohibits LLC ownership, you can manage rent and expenses through the LLC while keeping the property in your name.

Remaining Balance: After the balloon payment, the remaining loan balance will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Payment TermsInitial Loan Terms (First 24 Months):The monthly payment for the first 24 months is based on a 12-year amortization schedule:Monthly Payment for First 24 Months: $1,573.39Remaining Balance at Month 24 (Prior to Balloon Payment):The balance after 24 months can be calculated using the amortization formula:Remaining Balance at Month 24: $157,113.92Balloon Payment:The balloon payment will be 50% of the remaining balance at Month 24:Balloon Payment Due at Month 24: $78,556.96Re-Amortization of Remaining Balance (After Balloon Payment):The remaining balance after the balloon payment will be:This amount will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Monthly Payment for Final 60 Months: $1,541.18Summary of Key Terms:• Purchase Price: $215,000• Down Payment: $43,000• Loan Amount: $172,000• Interest Rate: 6.5% (fixed)Initial Terms (First 24 Months):• Monthly Payment: $1,573.39• Balloon Payment Due at Month 24: $78,556.96Re-Amortized Terms (Final 60 Months):• Remaining Balance: $78,556.96• Monthly Payment: $1,541.18Additional Conditions:1.

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I strongly advise anyone purchasing an old house to flip to ensure they have a clear understanding of the condition of the home's drainage system.

If you’re In a title state make proof of utility pay off a condition of closing.

If I were investing in eastern WA, or where my extended family lives in Pennsylvania, those 100k houses in good condition are a real thing there.