As such, you would like for him/her to seek another tenant - that is acceptable to you - that will have a signed lease in place prior to closing. 

Most homes fail the 1% rule here, and the decent ones seem to get swept up by cash buyers almost immediately (I've already lost 5 bids on duplexes this past week).I don't know if it's the corona virus scare, but one of my offers finally got accepted.

I would list the unit for rent but just make sure to do your full background check prior to accepting a tenant. 

@Mike MagliettaAs an agent, I almost wouldn't accept your offer if I had other options(I would recommend seller against accepting the offer).

Would I get the title company to spin off a private mortgage note with terms they accept? 

So far the impact has been non existent in Milwaukee: we had 186 accepted offers in Milwaukee County, which was the second strongest week out of the last five weeks.

If your current tenants want to stay and claim they can afford the new rate, run a screening to verify before accepting them!

@Deneuve B.One of the properties offer was accepted prior to the Shelter in Place.  

If they accept an offer of $80k (unlikely), then I could have COC of 10%.Quick question Jaysen, do you allocate that 15% capex/repair money to another account somewhere?

Another option, is to find a conventional lender that will accept an LOE or an exception for the particular situation.