I spoke with attorneys, accountants, advisers and anyone who would listen to me to make sure i was thinking crazy (i thought i was).

The fact you are asking this question says to me you are not in a place to rent to this person and her child. 

It gives you some experience (I am not sure if this is your first acquisition or not).The length of the lease of that particular tenant may not matter to me if I can verify if there was someone there prior and for how long that previous tenant had occupied the unit.

IDK exactly what your taxes and insurance are, but this looks to me like you need $5500 a month in rent to be break even.

I have no problem with him getting a commission on deals that he brings, but it seems like a bad idea to me to sign this agreement.

The broker or agent could have instructions from their client to pre-screen the capability of the buyer(s).Out of town buyers some sellers instruct the listing broker or agent not to go under contract or entertain an LOI UNTIL the buyer has driven by and seen the property and decided they still want it.If I believed everything told to me without proof over the years I would be a hamster running around in circles going nowhere.There are always other properties to look at. 

Looking at your question it seems to me you are looking to invest in a syndication rather than getting into the syndication business yourself. 

Thanks so much for getting back to me on this, Brent.

It sounds to me like selling the property is a better idea than renting with those numbers.

The real issue: had this been known to me, I likely would not have closed (this wasn't the only issue with the place), at least without reduction of price or final say of damage repair quality.