Quote from @Nick Sanders: Could this be played to your advantage?

However, if you are intent on selling, what you are proposing would work for your exchange.  

Is that the proposed date of a sale?

Assuming it's for non-payment of rent, just send them a letter explaining the situation, the consequences of eviction, and include a cash for keys agreement with a reasonable move out date and proposed price (say, half the defaulted rent amount). 

The net worth of these people (both in terms of liquid and total net worth) is considerably more than the proposed line of credit.Thanks.

My proposed agreement to the sellers was that we each pay the "traditional" closing costs that a buyer and seller is responsible for on a standard transaction.

I’d like to begin contacting some to secure financing/pre-approval letter for this potential property and I have a 10-page .pdf proposal ready to go for this property containing the financials/our experience/comps/pics all detailed for the HML.Anyone have a good experience/non-scam/reasonable HML they’d be willing to share/discuss?!

@Shella Sanders @Brandon Shoate @Jason Utley @Aisha E.

You could propose a short term seller financing note where there could be balloon payment to ensure the seller gets his money back sooner if he doesn't want to provide long term seller financing.

What you're proposing here is none of your own cash in the deal with a lower rate of return.