Would it be easier to remove non-paying tenants if there is no lease, but rather just a month-to-month arrangement?

Far too many get stuck in the "paralysis by analysis" stage, thinking they just don't know enough to get started.

In the future I might like this to get something cheap with a cash offer and fix up as needed.Ideally I want to get equity as the person who finds the deal and puts it together, and in the interest of retaining a competitive advantage, perform improvements needed as a Cost-Plus arrangement where I can cover my Company's COGS and Overhead.

He calls the three steps Pre-suasion, Conversation, and Post-suasion.The goal of the Pre-suasion stage is to internally strategize what you want the clear outcome to be.

And yes, I am going through the final stages of paying off the remainder of my debt which is just a little over $10K and will be done with that by late December or January.For savings and investments, I just have my Money Market and Roth IRA, and will be continuing to build that back up once my debt is paid.My credit score right now is in the high 670s, and by December/January it will be up again.

The simplest of arrangements probably won't save you any taxes as they will pass through to your personal return. 

We are at the stage of evaluating various markets.

Hey @Zach Henning,Although I don't have any additional information I see that we are in very similar stages in our real estate venture.

Is there not a shared parking arrangements with other building owners close by?

You can't buy it without money so having that arranged ahead of time will place you in a better and stronger negotiating position.