If I am signing a contract to pay for 30 years, then I may as well get a mortgage and own it by the end.

Before a walkthrough and before signing a contract is it appropriate to ask the seller of a small multi family for:1.Rent Roll2.Property Tax Bills3.Utility Bills (last 12 months) (landlord pays all utilities)4.Income & Expense Statements (summary)5.Lease Agreements (Sample or Overview)6.Recent Maintenance Records (summary)7.Capital Improvements Summary

Regardless, I was asking if it's legal and savvy to have the income flow through the LLC instead of to me personally. 

The purchase contract stated our group was to receive a prorated portion of rent.

2) is there a resource that someone could point me to for a customizable seller finance contract template that we could look into?

Also, keep records of your contractor’s issues in case you decide to take legal action later.

If the houses are worth something, you can always sell the tax deeds and avoid the legal costs.  

Financial predators who realize up front that they are not on the note and have no risk to their credit  rip rents with no intention of fulfilling the contracts and original seller gets wiped out.

Request a detailed list of documents and information from the seller, including financials, leases, contracts, capital expenditures, surveys, environmental reports, open permits, and the Certificate of Operations.2.Physical Property Due Diligence.

Does anyone know how this is defined legally in CA?