It can be a great arrangement.

Can you explain the structure of that sort of business arrangement to me?

Your best approach is to negotiate the "cash for keys" if the new owner does indeed offer you such an arrangement; I suggest you try to get at least all the "move in money" that you would need for a new place to rent.

I meant to say asking them to "pay early" as in post-dating checks for March, or such arrangements.

We rented a 2 bedroom apartment on a similar arrangement.

You just need to arrange new financing prior to the end of your term and re-subscribe your mortgage in exchange for the new note.

Even helping to arrange a short sale would only mean work with no possible reward and only incur lawyer fees. 

I have dealt with the legal side of these types of arrangements a few times. 

The non-occupying borrower arrangement may not be used to develop a portfolio of rental properties.

Basically, there are two parties: the local partners, and the out of area partners.The local partners found the deal, arranged meetings with developer and other parties, will act as boots on the ground asset management for attaining local bank financing, all work with architect, oversee management of construction project, and asset management for eventual lease up/ongoing property management.