However, I still verify each transaction online manually on my checking account monthly, but it takes me only a few seconds to verify each mortgage or rent transaction on my computer.

Since they won't actually be signing a lease until the move in date, what would be the best possible way to write up the transfer of this fee and still be protected on all sides to be able to keep it if they decide to back out before giving the rest of the funds needed to move in (which of course I don't anticipate happening). 

BP is one of the best online real estate investment websites.

Listening to the courses and traveling to the venues he had in Dallas and Orlando helped me more so than my wife with my real estate knowledge, and I say me more so than my wife, because she introduced me to real estate when we began dating in 1999.

Id like to first thank everyone here on BP and mostly @JD Martin for all his help through his online business.

Or should I put that $50K into low expense ETF's while looking for another good rental property to purchase at a later date. 

Plus, I could only rent it out for 2 years, for the free capital gain, because its a primary.I probably profited 40k or so, from purchase date.

You can easily set up an LLC in Ohio online through the Secretary of State for $99, however your Resident Agent must be located in the state of Ohio, which means they have to have a valid physical address in the state.  

The agreement can be whatever you want, just like an online advice :) However, for taxation purposes, this idea of @Carl Fischer will not work without modification.

I found that multifamilies (which I am interested in investing in) are hard to come by in that area (although I have only been looking at online sources).