If so, is this something I can get a template of online or do I need to seek one of these documents from an attorney to then present back to attorney signed by both parties to then draft a formal contract?

Neither document should mention the other--lease is a lease only, option to buy is only an option. 

If you plan to do this, best to tell your lender so they can document that you own the LLC so title stays the same. 

So have your LTR tenant sign a separate document acknowledging that they realize there will be transient guests next door.

Request a detailed list of documents and information from the seller, including financials, leases, contracts, capital expenditures, surveys, environmental reports, open permits, and the Certificate of Operations.2.Physical Property Due Diligence.

They went belly up and now are getting personally sued. someone sent this to me the other day that I posted in another group as well: Document List (state.ny.us) - I will also add I am in note investing and a famous guru who now has around $2M +/- in judgments against them used to have large conferences and would charge for it.

If you think you like the opportunity I would then ask for other documents to verify the expenses, including utility bills and Income and Expense statement.

The key factor is ensuring you have proper documentation to support all the transactions, deductions, and income reported.

Seller Financed: I don't see any verbiage in the loan document that made me think this is personally guaranteed.

Or may be we should jail and fine mortgage loan officers who issued pre-approvals and then approved the deal/contract with buyer before underwriters went over every dot and T in all the documents submitted buy seller and retail buyer?