A complete, 100% plan covering all "what-ifs" must be written and vetted before taking action.  

I ran an initial estimate on a property, when I showed it to my contractor, before he went out to the property he thought the dollar amount and the scope looked good. After words, he came back with a bid that was abou...

I can put all of those to action and make decent money doing it.

Some help would be appreciated so I can plan and position myself!

This is important because, in theory, you are only buying homes that have positive cash flow.  

You tell them they must vacate and do no damage then you will not take legal action against them (I call this the easy option) and you will then either allow them to use their deposit against what they owe you and/or set up a "promissory note" payment plan - which is enforceable by law. 

Does anyone have any positive or negative experiences purchasing homes from an investment company which they rehab, screen tenants and property manage in another state?  

Maybe give person B a second position behind the main mortgage on title? 

HI Michael,the answer to all 3 is yes. since the properties are so close, one or the other would have to be a an Investment property. since this is your plan of action underwriting should have no issues as there is no means of mortgage fraud with what you plan to do. one thing you will want to keep in mind when qualifying for the new home is debt to income ratios, and having a renter with a signed lease agreement for your current primary lined up will off set the debt ratio helping you qualify with no troubles.let me know if you have anymore questions or want to speak privately! 

I am not a broker, lawyer, or professional giving legal advise, but from experience if you place that new property into an existing LLC and somebody sues that existing LLC for something that doesn't even have to do with the new property that new property could be part of that legal action as well.