If you have your keywords set up, you should get a notification.

If the seller or tenants refuse to do this, then you can ask the seller to put 45 days of PITI + expenses in escrow with the remaining balance refundable back to the seller if the tenants move out earlier than 45 days (this however, does not guarantee that the tenants will move out within 45 days but it does put pressure on the now seller/landlord to push for option 1 - having the tenants sign something). 

We want this to be a formal loan and make sure that it is set up correctly and is also easy to manage.  

An LLC could solve quite a bit of this but he already has enough on his plate and really neither of us want to deal with an LLC on top of all this...So...We would like to take the rent funds in the name of the trust in a bank account and draft checks etc for the building as well.My question is how to set up a bank account for a land trust and is anyone using a bank familiar with land trusts?

Here are some good places to start: http://www.biggerpockets.com/meet- find and connect with other BP members that are in your area.http://www.biggerpockets.com/alerts - Set up keyword alerts to be notified of the topics that interest you.And, of course thehttp://www.biggerpockets.com/forums - ask any question about real estate!

I've set uupan appointment with a few more banks and I'll call more later, so eventually I'll find the financing I need.Does anyone know of any banks around western washington that offer 203k financing on separated duplexes?

As a new agent, I am in the process of setting up my operation.

Since it seems like you are not quite in the area yet I would suggest following the Pittsburgh forum and setting up keywords for areas you are interested in.

You will then pay 2 sets of annual fees, both MA and RI.  

This alone set us back about 6 weeks worth of weekends just getting rid of this, only to find out that the plaster was in horrible shape behind it.  3.