If the lease says rent is due on the 1st, I would give her the option of following the lease or moving out.In the future, every offer to purchase a property with existing tenants should include a request for an estoppel.

Are you looking to purchase a turnkey rental property, engage in fix-and-flip projects, or pursue a fix-and-hold strategy?

Remember, no system is perfect, so avoid the temptation of constantly chasing after the next shiny object.

If we were to sell it now it would probably sell for 20K more than we purchased it for.

Ammendment - due to a precedent set of a father buying his daughter a pony, a man shall refer to a prius solely in the context of purchasing it for a mother, wife, daughter, sister.

Then use the funds to purchase another cash flowing property. 

Hard money will go 70% LTV on the purchase, so I asked the buyer where the other 30% will come from and he stammered and said he'd get back to me.

I am purchasing a new construction home. 4 bed 2 bath.

$240,000 to meet your financial objectives?  

Remember, no system is perfect, so avoid the temptation of constantly chasing after the next shiny object.