In an ideal situation, this kind of deal can benefit all the parties involved, especially if it's a highly desirable property; The seller gets some privacy, the agent makes a few calls, and the buyer has less competition.

Depending on investment goals, research, and involvement, both approaches can be beneficial in real estate investing.Good luck!

If you really wanted to help people you would have been involved in other posts with advice.

Instead I would find an experienced flipper, offer to partner on a deal, maybe bring the deal to him if you can find one, and agree to take a reduced amount of the commission in order to be involved and learn about the process

Do I need to get a lawyer involved at this point?

Because of the money involved with lost rents, we are now contemplating legal action along with our homeowner client. 

48 hours after this boyfriend and girlfriend move in I get a message from the guy that the girl punched him in his eye and he is scared to live there and wants off the lease.   

They can be an extra set of eyes if anything happens.2.

Can anyone briefly describe the steps involved in building from the ground up? 

You mention that its a SMALL kitchen and a microwave hood saves on valuable countertop space plus its an eye catching sizzle feature that sets you apart from comparable rentals.