They must still execute on their option and purchase the home before that time frame expires, otherwise they lose their option.

I will write another post about offers being rejected, losing funding and losing money, agents, building my credit and raising capital.

Same thing, contractor loses license until fund is repaid.  

Should I sell my house, use any excess profit I make to purchase a duplex and start over from?

Should I sell my house, use any excess profit I make to purchase a duplex and start over from?

@Zana Blue,Well, I'll take a more humane position: instead of focusing on win-lose, try to find a way to make it a win-win.For example, if you're in a position to do so, offer to be a private lender on his deal, or see if you can partner up with him some other way.The path to success should not be a competition, it should be a journey on which we take others with us.

It is advisable not to break leases early, or both landlords AND tenants lose available funding or benefits. 

If you flip first (and don't lose money), you'll still be able to buy the rental.Let me know how else I can help.

I always need to sleep over a big decision for at least 2 days, however I feel like I'd lose a very qualified tenant who's actually willing to pay higher given the hot market one of my properties is in. 

They want to make sure you have something to lose(down payment).