1 - You have to figure out what your depreciable basis will be in your personal residence turned rental.2 - You start the clock on when your section 121 exclusion will expire

The lease states that "If Tenant fails to surrender or vacate the premises at lease end, then tenant shall be an 'at-will' tenant or tenant shall pay base rent equal to 150% of the base rent payable for the last month of the then expiring term."

Much to our delight, we ended up with a bidding war, and we accepted a rent offer $300 over ask and locked in a 24-month lease (expires September 2023).

The second contract 15 day extension is about to expire and my agent tells me that I will have to pay a "delayed closing penalty fee" to get another 15 day contract extension or lose my earnest money and the property.

See the yellow callout box at the top right https://housing.lacity.orgThe order was supposed to expire 6/2 and now it's 6/24.

First renters were a nightmare but have a new/current tenant with lease expiration coming up.

This property is in FL so I had to put 10% down for earnest money.The problem here is now, due to mortgage rates increasing, the lock on the offer has been expired.

Can you delay closing until her lease expires and the current landlord simply does not renew her lease?

What percentage of expiring leases will renew their lease each month?

Since the heat and leaving the unit early are separate issues, I'd recommend treating them as such (though it's the same issue, money, to the tenant).Let the tenant know you absolutely understand that he'd like to leave the unit before the expiration of his lease, and to help him in this endeavor you'd like to get the unit re-rented ASAP.