It spells out exactly why and how you can terminate the relationship.

Each lease contract spells out the terms of default specific to the company.

I'd just add that you should  include in your operating agreement a very detailed explanation of how issues are resolved, voting power for all members and who is at the helm of the organization (i'd also spell out roles and responsibilities for each member in a very explicit manner)

But I do recall having to explicitly spell that out.

I would run a check if there is a current mortgage on the house.Present both offers in an email and spell it out but I would get the above information first so you are able to make the right offer.

LLCs also allow for a dynamic change to the operating agreement between the members of the LLC and also they can spell out the responsibilities of each member.

Account Closed the jist (spelling?)

Consider doing JV or tenancy in common (TIC) but that's to be confirmed with an attorney.Bottom line speak with a real estate attorney about the best structure for the deal and ask them to spell out all of the terms and responsibilities in the Operating Agreement.Good luck!

I spelled it wrong to not tip off keyword searches.Grant is great at motivating people and selling, I have read a few of his books. 

Your lease language also plays a big role here and should explicitly spell out how/if that can be accepted.