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.

In the interest of full disclosure and risk mitigation, don’t you always want to notify the lender of the subject to arrangement?

This would continue for 10years or until we mutually agree to end the arrangement.

Maybe you can arrange something where you just pay an agent a small fee for help in pulling comps.