Lets just say I am VERY tempted to charge a $50 fee per person JUST to get interested only parties!

All third party money will have strings attached to it so really it isn't cash but a loan plain and simple.

There is no issue with giving a past owner an option to repurchase that I'm aware of in our area, a lease-option cam have a different flavor, so check with a local attorney.The option could be made with a third party who in turn agrees to sell back to the original owner, I think adding a buffer or strawman would clog any path back to you if you're not a party to that end transaction, you'd be letting someone to act as a wholesaler or buyer/flipper.

A "Short Sale" is 'selling' the property, a new party takes title, and the Mortgagee taking less than what is due.  

It provided a level of comfort for all parties.  

Totally forgot about the title/attorney part.  I

Typically this is when seller offers to pay closing costs on REO properties (HUBZU being the primary source of this annoying process, the extra party can cause excessive lead time when minor issues arise such as closing date shift or last minute credit grant).

It has to be a strictly arm's length investment, and most self-directed IRA custodians will require that you hire an unrelated 3rd party property manager to ensure it stays this way.  

You stumbled upon the greatest of greats and the best part is... you will never feel alone again.

I'm concerned that without a new signed document from both parties when move out time comes I may have no recourse if there is damage that happens from this point forward.