Buyer will be responsible for obtaining possession of the property upon closing.

In wisconsin, state law says I can deem tenants possessions abandoned upon move out but I must inform them of such. 

When we are buying occupied deals and we want the tenants out we usually just put in the PA that closing is contingent upon tenants vacating and removing all possessions from the premises.  

When we accommodate a change in the make up of a household, we let the tenants know the full security deposit stays in our trust account, earmarked for that unit, until the final departure of all occupants and we have received return of possession of the unit.

If a property develops a leak with existing tenants and I did not take possession whom is responsible and what happens if a ton of damage or a tenant vacates in the grace period and I cannot afford the loan without the tenants income then what? 

Some places I've applied for a job as a simple cashier turn me down because they say I'm over qualified while others say I don't possess the qualifications and/or experience.  

The reason you want them to turnover the keys is that it is an additional indication that they have given up possession of the unit.

I had some concern that tenants could be put off by the experience, as it's intrusive, but we had a great inspector who introduced himself, reiterated that he wasn't there to inspect their possessions or how they live, just make sure things were in working order, and it turned out fine.

As part of the split the "owner" takes sole possession of title. 

I have personally purchased non-performing notes through both successfully- the key is to remember that you must do your own due diligence on any note you are considering before taking possession.