I would move to evict for cause (violation of the lease terms).

If you have loans on these with personal guarantees that also have your name on them then your two options really are sell the assets or buy them out -Which typically if it’s contentious will require 2-3 valuations - each party should get their own and if the numbers are not close then get an independent third party and average the numbers.

No, I am an Agent and there was no loan

Would there be issues with the 30-year conventional bank loan itself for the 12-unit apartment since the down payment is from a HELOC?

The offer I received is a 9% interest rate on a 5-year term, resulting in a monthly payment of $726.

Additionally, the rental market in Seattle can be competitive, with seasonal fluctuations affecting short-term rental demand.

I am a dedicated real estate agent who works with investors seeking short-term rental properties.

- Do you plan on using Fannie/Freddie or a local bank loan?

The term syndication often is used in a multifamily/commercial or other real estate transaction, where a property is being purchased and the GP needs to raise capital (equity, often) to purchase the asset.

Understanding the strategy and terms behind offers and a P&S is where hundreds of thousands of dollars can be won or lost.