A mortgage is, “a legal agreement by which a bank lends money in exchange for taking title of the debtor’s property.

Hi Geoffrey, there is a tiny chance they will agree to postpone but you need to contact the lender immediately (bank in this case) and provide the evidence that you are a serious buyer (this can include a signed purchase agreement and proof of funds).

The agreement didn't mention about how to handling the late fee that helped by collection agency.

Also, it would be great if I could get some suggestions on what website/tool to use to do background checks and e-sign lease agreements.  

So that's 2 rental agreements and 2 rental payments coming each month.  

Best action is to document an early termination agreement. 

The relative % ownership in the partnership should be dictated by the operating agreement that you or your counsel will draft.

I would get an agreement on the reduction and let them take care of it themselves. 

One thing we have done was to offer amenities that carry high value in the area and build these costs into our rental agreement.

My friends father made an agreement with a lady years back.