You got organized and learned how to be a landlord -- you made a lease, got a lawyer, set your criteria, got some forms and made some rules and procedures and decided how you would manage (or hire out the management and interview and set up someone)You marketed the property -- how much time and money and energy did you put into that?

Provide any policies or procedures in writing as well as telling them what to expect.Handle all matters as business and be professional about it. 

I explained the application procedure and that a credit/background check would be done.

What process/procedures change when operating under the LLC?

Anyone know the procedures in Texas to add an owner/member to an LLC?

However, it seems like there are some procedural twists and turns that are involved in such a purchase.Any tips or or things I should be aware of?

Learning the details about purchase offers, contracts, embankments, water rights, foreclosures processes, different types of mortgages, state auctioned property procedures, federal and state laws, etc.  

As I'm sure you are aware, there's plenty of vacant commercial space in Fitcburg, this just happened to be a niche use (dental office) and had been fortunate to have a tenant looking for a space to rent.Any luck int he past weeks on a property?

I feel kind of uneasy about this because he would have full control of my cash, does this sounds like a normal procedure ?????

Without knowing the exact, specific flaws in the foreclosure proceeding, and knowing the local laws/procedures, there is no way for anyone to tell you.