I have uploaded the Template to my fileplace where you can find the PDF version as well as a link to the editable Google Sheet.https://www.biggerpockets.com/files/user/drobertson/file/rehab-project-material-responsibility-list

If you give them a chance to pay on their promise date and they were being truthful, you will have avoided a lot of time and cost associated with filing the eviction and then cleaning/fixing up the unit, marketing, and not to mention vacancy.

Currently my biggest fear is losing capital due to dishonest seller, issues with collateral file causing inability to collect on loan,..etc.   

I wonder if we need to file some additional tax return forms now that we have EIN? 

@Kelly Rogers  When you file is ready in the system with your lender they can run the file in so many ways to give you advise which debts you can pay so you have right DTI for loan.

For single-member, you should be able to get everything done around $500 to $1,000 including filing fees.

It will keep the splatter of being sued from touching you personally if done right, where property insurance can provide an umbrella to help cover some liability, if it doesn't rain too hard with lawsuits, but the IRS still has you file your taxes the same as the owner unless you have partners in LLC.

I would not file for eviction and set a precedent.

If each co-owner has an undivided half interest then have the co-owner who wants to sell, write out a detailed affidavit with any available documentation -listing all of the expenses that each co-owner has paid for mortgage, taxes, insurance, maintenance etc, during the last three years (or whatever your local statute of limitations is to file for unpaid debt). 

If the tenant is unresponsive to the notice it's time to file for eviction.