After the eviction, you normally are left with some of their possessions (which is super frustrating). at that point, you would need to store them for a bit (ask your attorney) and then you can toss them if the tenant doesn't pick them up.

By then you have experience and presumably a balance sheet, two things anyone raising capital should possess. 

We have the cash for the property purchase right now so I thought it would be easier to get a loan for rehab once we took possession of the property since the value of the property at the end of the rehab will be close to 3x of what we will buy the property for. 

I believe most who sign up for these programs are too naive to know what's happening but if you are someone who does and still believe this is the best path forward I question whether you possess the moral compass or responsibility to care for someone else's hard earned money. 

With that being said, has anyone issued a 30 day eviction notice to their tenant once they take possession of their newly purchased property? 

Be sure they receive the Notice of Non-Renewal in October, and the property (unit) should be back in your possession at the end of November. 

A successful partnership requires the following skillsets among its partners - Time, Money and experience.Which skills do you possess and which skills does your friend possess?

Anything that actually comes into our possession goes into our tithe calculation.In addition to tithing, we try to give to charitable causes when we can, but we don't do it as often as I would like.

@Ricardo Polanco I would not grant buyer early possession without a large nonrefundable deposit.

I now invest more in tax deeds (where you own and take possession of the property immediately).