Yes to the new agreements...as follows:1 - Sign an addendum to the original rental agreement that releases tenant one from that agreement.2 -  Sign a new rental agreement that includes only tenant 2 and husband, and also states this agreement makes the other agreement null and void,3 - Since tenant 1 signed an option agreement, as long as the option period in that agreement is still valid, you can't sign an option with tenant 2 and hubby.4 - Once option period from tenant 1 has expired, you can then sign an option agreement with tenant 2 and hubby

The real question is if unemployment remains high and the investors don't extend the 12 month forbearance period.  

Today cases continue to rise, hospitals appears to be overwhelmed, small businesses appear to be closing left and right and we are having second thoughts as to whether we should continue or back out.I have been researching and running numbers for several months now, funding is in place and we are ready to roll but am unsure if I am falling into analysis paralysis x10 with the current situation or if I am being realistic in thinking this could extend so far out that by the time we are complete with construction the crisis would have impacted real estate so drastically that our estimates will be irrelevant (considering we already run conservative estimates).

It should come as no surprise that on July 9, 2020, the day before the July 10 end of Pennsylvania's eviction moratorium, Governor Wolf has EXTENDED the time a landlord must endure lack of rent without any legal recourse. 

Yesterday I've received the following message from my realtor:"I just heard from the realtor and she said the buyer is having major second thoughts about buying this house and is wanting to do a mutual release.

Authorization to release information?

When you get near your deadline, give notice your deadline will be extended to say 5 days after receipt of the docs, or it’s canceled now. 

If you deposited the check from the unofficial tenants, you have probably bestowed tenancy rights upon them and that may have released your prior tenant from some obligations. 

Governor Wolf just extended Pennsylvania's eviction moratorium to August 31 preventing evictions of those that have lost income due to covid.

We've signed an addendum to extend the closing date by 5 days to see if a resolution can be reached.