You will want to consult with a lawyer.In regards to your last two questions here's some background on what makes a contract valid and enforceable:Offer: A promise to do or not do something within a certain time period Acceptance: A clear and direct statement that all terms and responsibilities are accepted Consideration: A legal and adequate inducement given in exchange for the promise Capacity: The parties to the contract must have the legal capacity and competency to contract Awareness: A party must be aware of the contract Legality: The contract must be legal in the jurisdiction it will be operating in***Not legal advice*** Steps I would take: -Review contract in detail to understand each counterparties responsibilities (if you are not aware)- Email a copy of the lease to each of the tenants listed on the lease and reiterate lease expectations for termination notice, rent payment etc. - If the lease was signed via Docusign (other esign may have same ability) - you can go to the envelope, go to history and view the IP addresses for each action taken.

Just a worthless piece of paper that validates a promise (legal obligation). 

I have never done this just thinking out loudNo legal advice.

They also handle legal matters, like making sure the property follows the rules or dealing with evictions if necessary.For finding deals, I recommend starting by connecting with investor-friendly agents in your target market.

I will preface this with the fact that I have a legal background, specifically with estate planning and asset protection.

-how is management split among you, PadSplit and any other third parties?

Of course, every owner's situation is unique and factors like the legal entity involved, purchase date, adequate passive income that can be offset with the cost segregation study, etc., will need to be considered.

In 30+ years we've been sued 1x (legal blackmail over a tenant's drunken trip/fall) which the insurance company settled for $1,500.00).We've been using some privacy tactics to keep our names off the county recorder and the target off our backs.Further, we review our insurance coverage and premium annually, just to keep on top of any changes.As with all insurance, it seems to be a waste of money... until you NEED it!

nothing wrong with that at all as the property is being sold to 3rd party.

You would have to go after the one individual for non-payment and you could only remove the other three by going through the legal process like you would for someone on a verbal agreement, which puts you in a he-said, she-said situation.