I'm here to learn how to structure a rent to own agreement that gives me the greatest cashflow so I can grow my business while continuing to work full time.I look forward to hearing about all the interesting and creative ways I can achieve my goals.

The seller and I have a verbal agreement, but I need to get the paperwork to him.

I'm not sure about your area, but in a lot of states, standard agreements are used.

As Ben Franklin said - "good fences make good neighbors" and I have altered that sentiment by saying "good agreements make good partners".

For the experienced real estate investors out there, how do you go about doing the paperwork (Purchase and Sale Agreement; Escrow; Title insurance, etc)?

However, the agent says that there are no leases in place - only tenancy at will agreements.

At this point I have not agreed to release the owner from our agreement.

The agent probably wants you to sign an "agreement to rent" which outlines then aspic standard lease realtors use.  

Here is what we put in our move out letter, which may be helpful to build on:Specifically, here's a list of items you should thoroughly clean before vacating:[ ] Floors[ ] sweep/mop laminate floors[ ] vacuum carpets and rugs (shampoo if necessary)[ ] mop kitchen and bathroom floors[ ] Walls, baseboards, ceilings, and built-in shelves[ ] Kitchen cabinets, countertops and sink, stove and oven--inside and out [ ] Refrigerator--clean inside and out, empty it of food[ ] Bathtubs, showers, toilets, and plumbing fixtures[ ] Doors, windows, and window coveringsPlease don't leave anything behind--that includes bags of garbage, clothes, food, newspapers, furniture, appliances, dishes, plants, cleaning supplies, or other items that belong to you.For move in, put all info in the rental agreement.  

I use RocketLawyer (no affiliation - just a satisfied user)You *could* wait for them to come back to town, but you've really got no legal agreement until they sign.