Plan accordingly with detailed leases on parties, number of occupants, no smoking,  quiet hours, etc. so it doesn't degenerate into a frat house.

Third, when to property is sold you collect the difference between what you had it for in the purchase contract between you and the seller and the new buyer, which is the tenant.

Super easy for all parties.

It should all be done in house under one roof, no third parties unless it is a home inspector. 

You need to get a 3rd party inspection to ensure the property is in the condition you expect.

Unfortunately the property I would like to purchase will sell soon, and definitely won't be around in a few months.Can anyone give me some advice regarding having unrelated party buy it now, and then I would purchase it from them a few months later using my 1031 proceeds? 

If that is the case, do title companies and other parties involved who ensure the transaction goes through care about the terms at all?

So now you'll have to wait until the third month.

If the kids have a party and destroy the house and the parents say they aren't at fault, you have a serious issue on your hands!

. - Your rental history via any identifiable prior Landlords - Credit reports via a third-party Consumer Reporting Agency - Public records regarding criminal conviction history or registration as a sex offender - Personal references. - Verification of employment and/or income (or rental subsidy) amounts. - Public records regarding civil court records. - Any other information provided by the applicant (such as anticipated length of tenancy, tenancy commencement date, etc.). - Any offers or proposals you may choose to make to us (additional rent or deposit funds, extended lease term, guarantors or co-signers, etc.).