Are there any other charges or legalities I should know of?

You don’t know if they are legal in that state or even protect you as the lender.

4) Have you checked to see if this is legal?

If you have a duplex and you don't have it legally subdivided either as two separate lots, or as a condo then you cannot sell one apart from the other.

Yes, you can sell it.Sometimes Peoria will grandfather a duplex and refer to it as a "legal nonconforming" single family zoned property with duplex as permitted use.If this is the case the new owner will be able to legally and officially use it as a duplex.I have also heard of people finding an architect to declare that the house was originally built as a duplex, which would help you get it rezoned as multi-family and duplex as permitted use.PM me for more info.

All told, the GP is making $337,500 just to arrange the deal (not including their reimbursement of any out of pocket costs they have already covered: due diligence costs, broker costs if they are paying anyone to bring them deals, legal setup costs, etc).  

This means understanding and obeying the law, which will do far more to keep you out of trouble than having an LLC will.An LLC is useful for two things: anonymity and legal protection.

They should pay the full deposit up front and meet all your other requirements before you hand them keys.Do yourself a favor: buy "Every Landlord's Legal Guide" by NOLO.

Can you legally notarize your own non payment petition and such etc.?

Long-Stay Rentals give legal safety but not as much money.