The 70% formula is a bit out of date and really not specific enough when it comes down to it.I think you're better off itemizing each expense and formulating your offer off of that.

Of course condition of the rentals will play into the speed of the lease-up as well. 

Maybe it's just flexibility on something like due dates if there is a time of the month that works better for anyone, never know till you ask.

What do you do - stay as you are in the same lane at the same speed and hope for the best, or take evasive action?

@Brian DeLormeHere is the definition of "first-time home buyer":You qualify as a first-time home buyer so long as you had no ownership interest in a main home any time within two-years before the date you acquire your new home.

That is all you can do, churn those puppies out at the speed of light.

Here we are at the end of January still waiting for tittle to be cleared, the seller has stated that they have filed a court date to have the lien cleared, because of this filling the tittle company will now issue tittle insurance, which now obligates me to close with this lien on the property per the contract which states “seller to convey insurable tittle”.  

I'd like to include language in my contracts going forward that remove the ambiguous "at closing" and provide an exact time and date.

When you do a contract for construction you need to put in a schedule with  a FIRM completion date and write that time is of the essence and that there will be a penalty for each day the project is completed past the deadline.Do not let them start until you have the signed contract in the future.Now, just notice him that you will be seeking a different contractor since you 1. 

Before starting the 2nd I wanted to put into the contract a clause that indicates a daily fee if they go past the due date.