My agreement with them for the owner finance term was expired at that time and we needed to extend the agreement.

The damages are time planned off-work for fix the property for an October 1 rental date, cancelled contractors, but most of all missing an October 1 rental date which puts us in risk of having extended vacancy through a New England winter. 

You can always extend if needed but be careful allowing it indefinitely.

The point of the license requirement is to be able to control and hold accountable those people and entities which are extending consumer credit secured by real property.   

Been reading non stop and seems consistent to what both u are saying.Update: After sending an email calling him out that he should have extended escrow.

I'm curious as to what to expect for vacancy during the peak months (May-Oct) and I can only assume best case scenario would be to find short-term tenants for the duration of the cold winter months.

My plan is, once I find a property that I like, I can move there and stick around that area/city by simply extending my contract, and fulfilling my FHA one year obligation that way.

If I may extend my hand.

I have seen companies that give you an initial loan with 3 points but may allow you to extend the loan term with additional points paid up front.

There is no amortization to worry about with interest only as the principle balance is fixed throughout the duration of the loan (question 3).