The best ideas are the ones that make financial sense.One opinion...hope this helps (and that you're warm in this crazy weather we're having here in Florida).Best.

However, it’s important to ensure that the deed is properly recorded with the county recorder’s office to make the transfer official.

Here’s the situation (personal details removed):The tenant reached out explaining that they’re going through financial difficulties due to an ongoing divorce and lack of child support.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

I would suggest partnering with another investor with some deals on their track record and/or some money to contribute to the deal.

The majority have evictions on their record, don't make enough income or have a lot of debt under their name.Comparing other rentals on Zillow, my asking rent is $1100 while other properties are trying to rent at $1200.

Ideally you would want to transfer the funds you expect to use for the purchase to your new entity for your records to create the separation from personal to business. 

Hey @Nevin Wilkie. have you looked on the city or county's tax records to find the mailing address for the owner when it's different than the address of the property you want to buy?

When in Doubt for Florida, look them up on Sunbiz.org, search by Company name, then cross reference with owner name.You go deeper and check Civil Records for Lawsuits. 

They could self manage for several years, using the rental income, until the next phase of their retirement.If they have a decent amount of financial discipline, they may want to get a HELOC now before they build to get the most favorable rate.