@Bart TillyThere are various "standard" agreements available in the marketplace (e.g.

If you’re not well-versed in lease agreements, security deposit rules, or eviction procedures, you could run into trouble.❌ Emotional Stress – Handling tenant issues (especially late payments or evictions) can be stressful, especially if you live in the same building.Hiring a Property Manager in ChicagoPros of Hiring a Property Manager✅ Less Stress & Time Commitment – A property manager handles everything from finding tenants to collecting rent and coordinating repairs.

Note both of these options require paying the tenant to vacate for a no-fault eviction (terrible name as if lease is up it is not an eviction).Note terminating a lease agreement for the purpose of rehabbing the unit is under attack in some places in the county. 

When you get an agreement with a contractor follow it, don't go against the contract...trust me the above are expensive lessons learned..you're benefitting from my pain.Hope this helps.

Review their management agreement.

I have had sellers agreed to owner financing as well as sellers to take steep discounts, as well as sign a purchase and sales agreement with me on the spot. 

While I have not done a deal with them, their agreement requires a close timing that simply will not work with conventional lenders (usually 7 days or so).  

You can find qualified buyers that are small business owners, tradesmen, etc just have someone qualified to do prop underwriting be fore you sign the agreement. 

You could negotiate terms such as a lower interest rate or interest-only payments for a set period to ease your upfront burden.Lease-Option Agreement: If the landlord isn’t ready to sell outright, consider proposing a lease-option where you continue renting for a set period with an agreed purchase price.

In the meantime I would love to have some helpful information or ideas to share with the buyers when we meet and ideally an agreement/contract we could fill out together once new terms are agreed to and then share that with the attorney so he could draft up the formal instrument for recording.If you have experience with this type of scenario, I’d love to hear any recommendations you have or any helpful resources you could point me to for the appropriate paperwork.Under foreclosure laws, you have to send appropriate notices and try to work with the borrower and offer a loan mod before foreclosure anyway.