There have been some fairly tremendous lawsuits and subsequent settlements by property managements companies who failed to address bed bug infestations in their buildings.As far as getting the units checked between tenants I would be careful.  

The value of a (good) attorney in drafting partnership documents is preventing catastrophic problems down the road when things do not go as expected (hint: they rarely do) or when you and your partner stop seeing eye to eye (hint: happens as often as spousal conflicts and subsequent divorces, which is pretty often).In fact, partnerships are very much like marriages in every other respect, too.

After the initial outrage and subsequent investigation into the laws surrounding service animals I agree completely that I must walk softly around this issue. 

We subsequently fixed and flipped two more properties breaking even on one and making a decent profit on the second; we had a contractor fail to complete the 1st job and walk away with $60k on the second job without doing a thing.

Your purchase will be closed first, then if you're getting a rehab loan, that is a subsequent transaction in another settlement.

The one who holds the oldest lien has the advantage of foreclosing earlier than subsequent lien holders.  

Seller has provided me the majority of the collateral files and I found that the address listed on the original note, DOT and subsequent assignments/allonges are incorrect.

If he intends to exchange into your LLC which holds Real Property, and subsequently he will be the sole owner of the LLC then it would be a good exchange.

I had a question about the equity in the subsequent properties to be purchased.  

One was allegedly going out of business, the second was a party who previously owned some of the properties I was purchasing (and subsequently forfeited them to the bank).