Sometimes you can arrange for a city inspector to come out and inspect your home.

If they want to get into the fix and flip game, they would not have to find the deal, come up with the money for the house, and market the home for sale.I met a contractor that was interested in this type of arrangement on a 3700 sq ft house I put an offer in on and we disagreed on the kitchen materials.

It also gives some tax diversity as you could sell a small chunk of index fund/ETF (<1% of portfolio) but generally have to handle/manage a big tax hit on 100% of a single family home.Perhaps good idea to arrange line(s) of credit (can be both low cost and low interest) while income is still high.I like the recommendation of converting rentals into principals to help with tax.

I am wondering what is the legal implications of this arrangement?

I just want to know where you think you are going to buy a $375k house that will cash flow, assuming you're using anything close to a standard financing arrangement  (~20% down).  

Hopefully we can arrange a meeting in person.

Now, the time is coming close for us to make arrangements for the home, and we are torn between selling to use the extra money to pay off a few bills/loans or sticking with the original plan of renting it out as an investment property.

I think you have to give them a little time to make arrangements.

Are there any verbal agreements or arrangements between the current Landlord and Tenant?

He's asking too much for me to wholesale it, but he said he's open to an arrangement where he allows us to build a SFH home on the land if he gets a percentage of the profit once the land/home sell.What is that kind of deal called?