Am I required to hire an attorney to write up the contract and assist with the closing?

You may want to get an attorney and hope RTR doesn't sue you.There are numerous posts here on BP with warnings about buying turnkey because you pay top dollar.

@Chris Brown, Georgia is an attorney state.

There is absolutely no excuse for the tardiness of financial reports, or information to investors, UNLESS the sponsor has run out of money to pay account/attorney, or employees; the sponsor is trying to come up with a way to “creatively” deliver misleading information, or the sponsor just doesn’t want to acknowledge reality.  

Condos are starting to get condemned, which means people are having to vacate units.I'm telling you right now, I'm a JD (not a practicing attorney) in Florida whose business is being an insurance expert for carriers, working with engineers. 

That's held in escrow, usually by an attorney.

@Emily Poerio, since you're beginning this journey, beware of the overly complicated entity structures some attorneys say you "must have". 

That's interesting that your attorney advised that you go with weekly rental collection. 

The property may be deteriorating as the debtor delays and as his attorney stretches out initial court hearing (in BK court) for 6 months.  

@John Malone are you a tax attorney?