Your attorney will have a better idea as to what is cutomary in your area, generally acceptable for private money.

(Yes, I should've only accepted a cashier's check, I'm also reading that even cashier's check can be forged?)

How would I structure a deal like this assuming the owners are accepting of replacing their former tenants with future owners of the property?

Once done the report gets sent directly to you and they give a recommendation on whether or not to accept the tenant. 

find what you really like & don’t like about a home (30-60 days out)Step4: make offers on homes and negotiate the terms - by this point you should be ready to close and move into your new home in the next 30-60 days.Step5: get your offer accepted!

That's the low end of what I would accept for myself.  

It's possible to deleverage in an exchange, but only if you accept some tax hit (partial exchange) or bring outside cash to the table, which can hurt your ROE. 

If they accept, you know they really wanted it and would appreciate it.

Had we accepted that offer, (and assuming the buyer could perform), we would have netted $935,000 cash.  

- Your structure Once you accept these responsibilities you will be able to better ensure a smooth execution of house hacking.