I would get seller's right, tax write off for the mortgage, and a notarized promissory note outlining our agreement that he is responsible for 50% of the mortgage and will handle tenets and manage repairs. 

Bump... about to start my day off and would love some ideas from some folks on how to handle this situation.

Find an agent ahead of time and decide how you're going to work together on this or if you are going to handle it yourself etc.

:Am about to bid on a project larger than my capacity, If I'm interpreting this correctly it sounds like this project is a bit of a stretch for your current bandwidth, if not beyond the ability of your current organization.As an owner, and with my experience with GC's, if a project is larger than what they can handle I would hope there would be a professional courtesy to simply bow out and say you're not able to fulfill the requirements of the project and give it to another group who can do the job to the specs within the budget and allotted time. 

I'll continue to handle my Quickbooks data entry and reconciliation.  

I made contact, (I thought) with the correct person handling their non-performing assets.  

Bolthouse Homes is located in Northwest Indiana and handles investments here and in Chicago and the suburbs!

Find out how much the jobs would cost to be handled by a handyman or small contractor and do a quick cost benefit analysis. 

Any thoughts from people in Texas on how they handle this? 

I was just browsing the BP podcasts, and show 71 deals with handling probate leads.