There seems to be a general assumption that longer occupancy durations can be achieved by using fixed-term leases (e.g. 1 year) as opposed to month-to-month leases.

Also if you have been in the two units for a while still refi up to an acceptable level if you want to get cash out, can lower your payment and extend the amort period.  

Repeat that no closing is taking place until/unless the house is vacant, suggest the seller finds a temporary housing for the tenant + if I need to extend a closing, the seller himself pays for the lock rate holding and also compensate my own tenant who is supposed to move in on November 16.

It just sounds like if you can’t do a dp + are counting on a HELOC you might get over extended, but also it wouldn’t take much to tweak this and be set up soon. 

It's useful to recall that a MTM lease is exactly the same an annual lease except that the duration is shorter and tends to renew to the same duration upon expiration.For this reason you tend to have all the same options at the end of a MTM lease as you do at the end of an annual lease, with the same notice requirements, too.

That may determine whether the offer will be written by you on State forms or if it will be written by the rep on a different contract. a builder’s contract may have terms about the appraisal where a low appraisal requires the buyer to bring any amount differential to the table at closing, especially if there are a lot of upgrades over base materials.Builders rarely negotiate on price but you may be able to negotiate some upgrades for your buyers, like quality of appliances, garage door openers, fixtures.If the project isn’t completed, your buyer ‘may’ be allowed to make some choices in materials, upgrades and cosmetic options.I would arrange a few walkthroughs to observe the progress before completion, with the buyers.Delays in construction and State required inspections, certificate of occupancy and cost of materials can complicate closing, such as a builder changing the price or the buyer’s rate lock running out of time and what it costs the buyers to extend it.Still recommend inspections to your buyers as new construction doesn’t guarantee things are in perfect condition, although builders typically have a window of time whereby they will correct what’s found by the new owners after closing, as well as some guarantees over time.Some builders have preferred lenders and Title companies - although the buyers don’t have to use them, they typically make for a smoother transaction and may provide discounts.If your buyers are loyal, and they happen to speak with a builder or builder rep without you, hopefully they won’t take the bait if the rep says they’ll get a deal if they leave you out.

This is an illiquid investment, so must be prepared to hold it for the duration.

Now that I’m interested, unexpectedly my extended family has decided to sell their largest real estate holding: a 6 bedroom 4 bath, 3 story home in the Pacific Heights neighborhood of SF.

@Steven Muresan I've never heard of charging tenants a fee when renewing or extending a lease.

Hopefully, we can build some strong working relationships with them during that time, so we can continue to invest in the area and not have to always stay the entire duration of the projects.