You'll need a lawyer to generate the paperwork and filings and experienced enough to give you general advice on the process, help you establish appropriate compliance and back office procedures.

It may depend on if you want a more formal procedure, or added protections such as all the inspections that go along with a traditional sale.

I need to know what forms I need or what procedure I should take to ensure I get paid at or before closing. 

However, there may be certain exemptions or procedures available in your jurisdiction to avoid reassessment in specific situations, such as when transferring property between family members.The approach suggested by the tax assessor office, where Aunt A provides evidence that she was only a co-signer and has no ownership interest in the property, could help support your case for avoiding reassessment.

@Viral Mehta why haven't you already implemented these procedures to test them out while you are still local?

---So, ask about their standard operating procedures and make sure your management contract has an easy termination clause.What are your options if you experience one of the above?

I've drafted a Standard Operating Procedure (SOP) for attaching brackets directly to studs, which should provide enhanced stability.

You can write your own operating procedures and do quarterly and annual meetings between you and your partner, but it's not as complicated as it sounds.

Understanding the management terms, including fees and tenant handling procedures, is also vital.

Do the same approval policies and procedures apply to section 8 renters?