How would I go about figuring out the contracts and protocol?

@Sean Graham, I recently had a tenant who was non renewed and they didn't pay last months rent so they had a deposit for their new place.I am in the process of taking them to small claims court for breach of contract where I will ask judge to also have them pay my costs to file and serve them assuming I win.If you receive a judgement and they still don't pay them you can file another form to garnish their wages.I don't intend to make garnishment a hardship so they have trouble paying rent at new place and will be open to a 12-36 month payback term, so long as I am made whole on rent and fees.This is my first time going thru the process so I am uncertain of outcome, although I have a paper trail for rents paid and unpaid, and texts from them admitting they were not going to pay.Here is a helpful link.http://www.ag.state.il.us/consumers/smlclaims.htmlBest,Ashley

and I guess some tenants who don't know any better....Yeah I guess that wouldn't really work unless the PM was an old school bully and pushed the tenants for the "late" fee each month.OK OK OK, you're right.... no sense.I guess I was thinking about a few contracts I took over where the limit to contact the owner was $400 and the PM ALWAYS had a $375 - $390 maintenance fee each and every month. 

You can't sign an option to buy contract with her as long there is a previous lien on the property still in place (the bank).

(Sorry my sensitive side showing)Next step get the house under contract with him so it does not go into dispute if something happens to him before the deal is closed.  

Do they charge a lot to draw up a Purchase and Sell contract?

You say the market’s hot, what about considering:1 taking the bank’s option to Convert to a 30 year fixed term, with maybe piti of $500/ monthly (See if they will lend you 75% of the appraised value OR use the purchase price Plus a detailed list of your costs and repairs) , and then2 selling on contract or lease option at full market price+, ie $119,000 possibly on terms.Look for 10% or more down and finance them as long as your loan is for.This would recoup your initial investment, $12,000+ and costs plus profits And give you passive income of what $200-250+ net monthly?

I'm under contract and want to shop a quote around.

I don't want to sign an exclusive contract with an agent.

I have a question in regards to HML and utilizing it to get a triplex under contract using a "cash offer" as the owner is looking for a strong cash offer.