The buyer signs a representation agreement with no locked in period, with the flat fee buyer agency.2.

An agreement would be signed, and the property would be sold in 5 years and proceeds split up appropriately.

On the initial agreement, it clearly stated that the buyer was going to be using financing and listed the terms of their financing

JD made some solid points on structuring the agreement etc. 

What types of organizations are you working with in your master lease agreement for your existing properties?

We usually have inspection clause in our agreements for no more than 10 days after EMD is completed. 

I'm struggling a little bit on deciding the best agreement to make sure I can get some cash flow, payback the HELOC, and not drive the new mortgage up too much with the Refi out of the HELOC.

Why not take his name off the LLC and put it in your name now while the LLC has $0 of value (or whatever nominal amount your articles of organization or operating agreement say that you contributed)?

The increased risk is generated by the fact that the owners are relying on the validity of the tenancy in common Agreement for their usage rights, and it is possible to imagine legal circumstances under which this validity might be undermined.- If the subdivider or someone with relationship to subdivider sells, a public report must be done.

They have the correct lease agreement and disclosures and make it much easier.