If I ever buy in the L.A. market you can bet I would hire her again as my agent. 

@Michael J Martinez  I think your smartest bet would be to talk to a couple banks about a HELOC and about a new mortgage.

Based on my understanding, there may or may not be a profit-sharing model involved.

A local REIA supported/supports the title company I've been using, and until this transaction involving ground rent, I haven't had problems (because the past transactions have been simple).Closing was set for 24 July, but has been delayed to 10 August (or possibly sooner) because HUD has not put the title of the home into their own name.

Hoping to make some connections through BP for learning groups, REIAs, etc and of course get more involved in BP.

People at these meetings likely can help you with contracts and documents they use regularly for deals 3) This involves another contract, you basically sell your equitable interest in the property you have under contract.

I know there is a ton of options for her and myself if I get involved.

Your best bet is to sit down with a loan officer and discuss your plans  - they will be able to tell  exactly what you can and cannot do  - you may also want to consider getting prequalified so you know how much you can buy and what your payments would be - this is especially useful in running your numbers to see if a property will cash flow or not.

Bet you a Coke they can't.Treat this property as if you were buying it off the MLS because that is exactly what you would be doing.  

I second the suggestion to get involved in your local REI meetings.