Question: She asked me if we could terminate the existing lease so that other spouse can be released from it (spouse got their own place) and do a new month-to-month lease.

But, I see no reason not to take the book with you too, and use it as a guide so you don't forget anything...BP will be releasing the Second Edition of the book in a few months, and I've included a section on "Inspection Tips" for each of the 25 components. 

Just make sure to ask for separate releases so you can sell or refinance one property without calling the entire loan due.

TO PROTECT YOURSELF, YOU SHOULD STIPULATE IN THIS CONTRACT THAT BEFORE ANY PAYMENT IS MADE, YOUR CONTRACTOR IS REQUIRED TO PROVIDE YOU WITH A WRITTEN RELEASE OF LIEN FROM ANY PERSON OR COMPANY THAT HAS PROVIDED TO YOU A “NOTICE TO OWNER.”

If the wholesaler has it under contract, why would he not release the address?

The Owner will likely have to have it subdivided, which is a process in and of itself with your local building and zoning dept, and his mtg company would have to agree to release that portion of the property from his mtg.You May could buy the portion without subdividing, depending on your local reg.s, but you’ll still have to have the mtg release.

The title company I use for my RE sales business has started to send all but the last 2 numbers for the wire transfer and then will only release the last 2 numbers via telephone to help avoid this situation.

Also, when you pay them off, you have to be very careful they release the lien properly or you have a cloud in your title.

The lender sends an inspector to decide what work needs to be done, the GC does the work, the inspector comes back to make sure the work was done properly, then releases payment to the GC.

Explain the pitfalls of releasing such contingencies.