Your proposed scenario is somewhat simplified and not as easy to do as it sounds.

I'd like to get my hands on some of these larger rent to own companies contracts, then improve upon these by simplifying the 'legal jargon,' and also removing some of their 'unfair practice' clauses, like say the Home Buyers of America, etc. have that's giving 'rent to own,' a BAD NAME:  e.g.  

So from my understanding, you think it'd be best for me to treat this as a transaction from him to me and simplify paying 80 to 90 percent of the market value on the house?

Buildium's a very robust and simplified system.

It's been incredibly helpful simplifying billing for us. 

While the series LLC can be multiplied to separately cover each investment, the structure simplifies the pass through properties of the business and can be tailored to individual ownership and management.

I don’t know your market specifics, but as a simplified hypothetical:MFR, $300k ARV, $4200 potential GSRPurchase @ $200k, 20% DPReno of $40k$80k total investment Bring rents to market, refi 80% LTV, recapture your $80k of capital and move off to your next one.

@Alina TrigubThanks Alina for the link to these simplified and easy to follow terms and calculations.

If this is not the case and I need 6 credit cards, How do I simplify this?

So just as a simplified example, if I have 9 properties with $1000 tax paid up and 1 with $500 that is unpaid, is it accurate or useful to call that 10% delinquent?