For example, if late fees with old PM, defined to be after the 5th each month, Am I allowed to enforce it with the new PM? 

It is YOU working a defined plan of action everyday consistently regarding personal life, religion, business, health, etc. 

@Mark Duhamel I'd suggest looking in WEST Brockton (loosely defined as zip code 02301). 

If everyone who is investing in the deal has a defined ongoing role, you can do a JV rather than a syndication, which will save you a lot of money.

I'd start with defining exactly what you want, and write a game plan for how you will get there.

This completed long-term flip will give me the capital to not have to start in the hole with my next project.My Loose Intentions (in Lieu of my yet-defined Goals):My 2-year contract with my employer is ending in the Spring.

Landlord tenant law has well defined rules, but two parties can agree on almost anything as part of a lease agreement.

In broad strokes, @Tom Gimer has the gist of it.If I were in the buyer's shoes, I wouldn't do diddly until seller and tenant got their stories straight. 

But there are some interesting interpretations from the IRS regarding what constitutes real estate since they let the states define real estate. 

I know it's a broad question willing to speak more in private if necessary.