But I also now believe it is completely possible to build teams and systems remotely to go into most markets and succeed.We even self managed our properties for a period of time, although we have since switched to using 3rd party PM across the board.The key is finding and building relationships with other investors in that market.

Both parties said they "can do this amount".

You can certainly use the listing agent if there is agreement from all parties (buyer, seller, and agent), which it sounds like there is. 

Some research online recommended the use of a 3rd party escrow service?

Welcome to the party Mark! 

Situations like this underscore the importance of structuring deals properly to mitigate risks and protect all parties involved.One way the money partner could have safeguarded their investment would have been by structuring it as a participating loan.

Been looking for answers for few days and finally found it: up until 2018 IRS used to allow to open EIN with another EIN, but now responsible party has to be a person with SSN.

Here are five steps to get you started:𝗣𝗿𝗼𝗱𝘂𝗰𝘁 𝗞𝗻𝗼𝘄𝗹𝗲𝗱𝗴𝗲: Understand the basics of lease options—how they work, key terms, and benefits for both parties.

@Mike Hodges - I'm a little late to the party, but welcome! 

Just trying to understand options here and while I'm not new to home renovations, the creative financing party is new to me.