Third property is a Condo bought off family member for mutually beneficial arrangement.

I wasn’t sure if there was a better way to arrange payments through the escrow company or some other 3rd party.  

By the way, he is avoiding my attempts to arrange viewing for others.

No“timeshare” or transient use arrangements are permitted, whether by way of rental, lease or sale.

It depends on the deal but one private equity arrangement I have worked out is I borrow some or all of the money for acquisition and rehab, then pay Prime+1% on the money, and split the profits at the end 50/50.

Our arrangement is that she's on the lease like everyone else, and we give her a gift/rent forgiveness letter each year. 

We would look to conduct similar arrangement on two other rental properties a little later in the year, only if this made business sense.

If I'm understanding the arrangement correctly, yes.The heat is all covered by the one boiler and that heats the water as well correct? 

Good candidates get a call to arrange a tour. 

Let the Grandson and Grandma sort out their arrangements on who gets what money.