o Should i ask about or ensure any specific details/arrangements with the lender?

Again, start with the end in mind, put yourself in the shoes of your ideal guest (even if it’s not what you’ll get to start), and base your bed choices off what arrangement suits them best (and your physical space allows).

Sounds like a good arrangement ...but you will be sorry big time !

Seriously, what type of arrangement is most common for owners distributions?

He may be able to negotiate some sort of arrangement with them. 

Prior to this ratified arrangement, roughly around 11/1/2018, I was contracted to purchase the above mentioned asset solely, without the “partnership” of Sean Richway.

Problem is they charge a fee if they arrange a successful loan, though in my case, it was waived. 

I’m considering a seller financing arrangement.  

If your not okay with that arrangement then simply don’t buy it .

You also need to make sure to do your best to get your business approved to be able to receive the payments for their rent prior to closing, and/or make arrangements for the seller to turn the money they receive to you if they receive it for the month you are buying the building.