You'll only make your lawyer and accountant rich.

Talk to your lawyer about the details of how to properly transfer property into your LLC.

I'm not a Lawyer, and this is not to be interpreted as legal advice, however, here is what I see has happened:1 - Faulty Option contract made worse by Owner's actions:  Somehow, even after the contract to buy has come and GONE (my math says 2007 + 5 years doesn't include year 2018), the tenant buyer has been allowed to continue to make (and have accepted...BIG problem) payments on the Buy Contract. 

I've personally never had this issue come up, so this is just a suggestion, talk to a good mortgage broker and lawyer.

I tend toward the DIY but I have been meaning to get a lawyer.

I typically pay 10% between origination fees, lawyers, inspectors, appraisals, taxes (which is the big killer of all deals and can be in the thousands if not 10s of thousands) Granted, my taxes are prorated at closing but I still need the money upfront. 

You may need a lawyer, NYS is an attorney state and we typically use an attorney to handle title and sometimes escrow.

. - I'm-not-a-lawyer-but-what-I'd-do-in-your-shoes: I'd probably put little surveyor flags up along the property line, effectively letting people viewing that home know.

If there was a fire and someone could not open a window and they died.......well you get it from a life standpoint as well as a lawyer licking hos/her chops for that one.

You can purchase state specific, lawyer drawn-up documents (lease, application, pet lease, etc) right from Bigger Pockets at: https://get.biggerpockets.com/forms/index/I checked and the do have Ohio forms.