I made an offer based on 2020 performance and they accepted it!

If the vendor accepts the job, they are shown when the tenant is available.

I offered $400,000 which was accepted, and my yield on the purchase price was about 12.75%.  

The seller is also very elderly and may pass soon (he’s rather accepting of this fact).

I accept chocolates if you feel so inclined ;-)

It made me realize there's probably other forms or steps I need to take when accepting applications and signing a new lease.

Some require six months of seasoning, while others may accept three months if the refinance is "on platform," meaning you closed the bridge loan with them.

Putting all this action into a partnership tax return reduces the risk right back down to an acceptable amount.Second, with a partnership tax return, we can mechanically show your capital contribution (at-risk money) including recourse loan debt.

If gold from the us mint is accepted as legal tender, is it at face value or is it based on spot price (daily gold price)?

I had not considered that because I was imaging a deal where they purchased with a loan and the lender would not have accepted excluding issues like this.