Hold Tony's deposit, contact him and demand January rent, in the interim screen the new tenants, if they pass draw up a new M2M lease beginning February 1st. and collect first, last, deposit etc. whatever your state allows.

They were extremely appreciative.Sorry to be long winded but I thought some other people may draw inspiration from this experience.

What you do not want to do is lower your standards and end up drawing from the shallow end of the tenant pool.   

Two of the strongest points I'd emphasize are a) structuring your draws to correlate with the work completed, and requiring contextual video for progressive proof of completion.

They will offer an interest only line of credit at 9.95%, which you can draw from and then convert to a term loan at a later period.    

From there we set up draws related to the scope of work.

The Board of Building Standard Department informed us that we need to work with a design architect or engineer to draw the plans, and those plans need to be submitted to the building department for review.

We have not listed with a realtor and will be finding a real estate attorney to draw up papers.

Maybe refinance and draw out some equity.

If the buyer and seller want to move forward, the seller's attorney will then draw up a contract and send it to the buyer's attorney for review and signature and deposit.