BUT, all of the aforementioned costs that will eat into your profit margin, are potential investments that can possibly help the business grow much more quickly and extensively than you might see with a rental property.

@Alex Sabio can you request an extension from the seller on your purchase and sales contract?

I decided to go with a 3 month extension and get monthly proof of payment to the 1st.

It just seems like Erinc is conducting the train - running around trying to improve the software, develop new features and make everyone happy.

Also as a condition, you might have them sign a 1 year extension to their lease.  

Buyer may, within 30 days (30 if not specified) from the Execution Date of this Agreement, conduct due diligence (Due Diligence Period), which includes, but is not limited to, verifying that the condition, permitted use, insurability, environmental conditions, boundaries, certifications, deed restrictions, zoning classifications and any other features of the Property are satisfactory.

We conducted a move out inspection the first week of July, and the tenants vacated on the 15th.

Brandon mentioned a screen recording extension about a year or so ago on the podcast for recording training manuals/procedures.

Essentially you will fund it and your partner will find the properties and conduct or oversee the rehabs. 

How extensive was your remodel?