Who else will know the laws and the rules of the nature of the beast, but others who share the same scenario.  

This is standard operating procedure for a closing although a foreclosure closing is more of a you give the Trustee cash and they provide a foreclosure deed. 

Standard procedure is for the seller to sign an affidavit stating there at no outstanding debts, potential liens, etc.  

Many landlords I know only inspect the premises at the beginning/end of the lease term. 2) Animals by their nature pose a big concern when it comes to landlord liability exposure.

There are a bunch of laws and procedures that he needs to know and just starting out no doubt he will be "learning" on your house.  

More likely is that once the home is abandoned, then the abandoned home procedure for the state takes over and the park owner can eventually take ownership of the home but there are precise steps they must follow.I have a guide called, "So you want to build an RV Park" which covers more details of the benefits of building vs. buying.  

He has stated their usual procedure is they can guarantee me a profit of $10,000 per $100,000 spent.

Don't know IL laws and procedures, and I'm guessing you don't either.

The question is: do landlords have to issue 1099s since technically income derived is passive in nature (i.e. not an active trade or business)?

Cant they use those funds in the form of a balloon mortgage or something of that nature for a flip?