Both were month to month, so I simply gave them 60 days notice after I closed (seller wouldn’t do it prior for some reason) and I had to wait until they moved out for me to move in.

@Ryan Boren You can cash out 70% of 40k under delayed financing exception or wait 6 month and cash out 75% of 40k on 1 unit.

I am sure his security deposit will be used up on junk and trash removal, cleaning, fixing everything he broke.2) Among the things he left behind were a huge nitrous oxide tank in the bedroom closet and six boxes totaling literally thousands of steel cartridges that say "ultra pure" on them. 

What else could be lurking waiting to breakdown? 

@Andrew Pettit You have to wait 6 month when you are using HML to cash out under conventional loan. 

We are already pre-approved for the loan and are waiting for her to contact her lender for next steps.

Should I just wait until I can start doing rental property investing with cash on hand?

Just waiting on his CPA to return my call to advise him on the deal. 

They knew 9 days before the financing contingency ended, and 19 days before closing of the job change and waited until the day before closing to provide us with options. 

There are thousands of people burnt in 07 with condos.