(you get it as a credit if you close) The EM is refundable if contract is terminated before DD date.

To get around this, you want to terminate the lease and move the tenant out, renovate the unit, then start a new lease with the tenant at a rate higher than what the law allows for rent increases.

I would put it back on her to get a lawyer and secure a release from himShe may actually have a right to terminate based on domestic violence by providing documentation and giving a 30 day notice 

They just bought a home and want to terminate the lease early in December 2022 and I am ok with that.The couple's parents want to rent the house from me when the couple moves out.

So if it is a 5 month lease you either need  to get the current landlord to negotiate with the tenant to terminate early, or you need to wait to close until closer to their lease expiration.

If you both are happy with each other, I dont see the need to terminate the lease unless you or he wants out. 

2) What happens if one of the partners wants to terminate the business relationship and wants their investment out now?

If, after the original 180 days of this Agreement, the Property remains unleased, either Agent or Landlord may, with 14 days written notice to all parties, terminate this Agreement.

Open permits/violations would be a reason for a Buyer to be able to terminate the contract, not a Seller. 

I'm really interested in BRRRR and hopefully short term in future.