Your second call is to a real estate attourney bc again the nuance involved in filling out the forms is a pain in the *** + you need special legal sized paper with margins of a certain length - lol - I thought I had it all dialed in, brought it to the assessor's office (or whatever city, windowless room it was) and got pinged $85 for the wrong paper size. :) I am currently working on quit claiming our recent purchase into the LLC and after gathering most of the paperwork have just left a message with an attourney so I don't have to go through all those hoops again.

Everything should be in writing...faucet swaps, toilet paper holders, hand towel rings, etc. 

Then all of their paper work they need , it really is a hassle, in some towns I wish I could make the process alot more streamlined.

How is the income being different each month any different on paper then if you had several tenant vacancies.

Rents are current paid on time according to the rent rolls, property is kept clean, everything appears well on paper, but what are you doing?

By showing on paper what they can gain in income and possibly reduce the tax liability all typically done a year after the closing versus over the life of the loan. 

This loss on paper, will offset against your active income on the 1040.

In my county it is pretty easy to file a small claims action (and cheap - about $100 for paperwork and papers served).

You'll want to ensure you keep title clear and not mess up anything in the transfer which is why I asked if a deed of trust was officially recorded in the County so you will want to have a paper trail, even though the property will still be collateral for the loan.

The best way to get the Owner provide financing by showing the pluses of the Owner Financing on paper.