Also investing in the right neighborhood that will attract homebuyers or renters where there are convenience factors such as schools, stores, transportation etc.

I'm leaning towards the dialysis center, as I believe that could be more stable in uncertain economic times.

The seller also will provide an assignment and if there was a note along with the land contract then an allonge is created as well.Land contracts get sticky because in some states the land contract must be recorded and in others possibly for convenience.

Is anyone an expert in the subject matter that we can lean on for advice? 

I lean towards this being true.

The tenants love the convenience of having the rent direct withdrawn from their checking and that it helps their credit score. 

I have recently had a very interesting situation fall into my lap and would love to lean on the advice of all of you to figure out the correct steps to take. 

@Eric Hawkes Hey Eric - My first three steps would be:1) Choose a mentor - Find someone that you think you can align with and lean in on for questions because you will have many.

For this convenience (and to defray the cost of wear and tear on the items in the house), I have each tenant pay a one time fee of 20% of the cost of their bedroom furnishings.

Do a 30 and when times are good, lay more toward principal and when they're lean, pay the regular amount.