This has been their arrangement for almost twenty years (the tenant has lived in three of the landlord's properties, all located in California) and from inception there was never a written agreement for this arrangement.Now the landlord wants to have them sign a lease and write them checks for the work that is being performed, which apparently is to be cashed and returned right back to the landlord as the rent payment.

I arranged a mover for them and the day I provided them with the security deposit (it was actually given directly to their new landlord) they were gone and the problem was solved in less than 4 days.

Your agent can also make arrangements to show the property and write your offer.  

Were you in contact with other real estate investors beforehand and worked out arrangements to workout a double close?

Besides gaining sponsorship, passing the exam is all I have to do to gain the license.After talking with a top recruiter at Keller Williams, he revealed that he believed the wholesaling method of real estate investing to be "unethical" by stating that it takes advantage of the seller in several ways.

Can a tenants in common agreement include an arrangement that would allow me to buy "shares" of ownership over time?

It protects them and allows you to keep your holding costs down a little.I've never done it, but I've arranged financing for it a couple times and had the deal fall through (knock on wood).Beset of luck!

A deal was struck up soon after the initial contact, but the time difference added more time to getting the contracts arranged properly, sending and receiving, to the final signature.

Or should I wait and have my own agent arrange to see the property (it's also a friend so they're going to help be an extra set of eyes on the investment also).

When you talk to the tenant, inform them that you will be the new owner soon and since they are on a month to month tenant arrangement, that you will need them to vacate.