Ask for 3 years PnL (profit and loss) for the building, as well as rent rolls. give yourself at least 30 days due diligence after they deliver the info to you. 

We have people who work at our company in sales who make impossible promises to our clients and then like to yell at us when we're not able to deliver.

Maybe he just sent it to you so you can deliver it to whoever will be handling the closing/escrow on the deal. 

The tenants can send their payments into them or deliver the payments to the bank.

It's easy to have a slick listing presentation (what you saw) but harder to deliver especially on the property you have described.3) Pricing is key.

The property is occupied (would likely try to have it delivered vacant) and I would put down 5% which is the most I could afford and pretty much the lowest traditional mortgage would allow.

Just continue to rent at current rate for May, deliver a letter explaining the increase, and have the tenant sign a new lease now that takes effect on June 1.  

He's holding out on delivering the title because he cannot do it. 

@Travis TimberlakePer the Realty Shares website - they expect K-1's to be delivered April 1st(2 days ago).

The only difference you could see would be delivery time by a couple days, first class mail by a company mailing from the same city its being delivered to will take 1-2 days whereas that same mail coming from out of state will take 2-5 days.