My name is Thayer Hood, I am a Broker/Investor Consultant in the booming marketplace of Indianapolis, IN.I am a newer agent, but I am ready and willing to learn from anyone and everyone who is willing to help.I thought my passion would be in the residential wholesale side, however after our team has found a few new properties and having met with contractors for bids, I have found my passion in REI.Being new or not, even I can see we have some incredible opportunities for investors.

You may also want to consult your attorney on that matter.Regarding the tenant, it probably won't end well, but I would confront them immediately as well to try to determine why and what to do now.Not giving legal advice, but strongly recommend you get some.

I'd consult with a good lawyer with experience in drafting Operating Agreements.  

I also like to do the math ahead of time so I can point out “you will make this much extra cash by seller financing” Always let them know they have more to gain in the transaction.I would also consult with a lawyer to make sure both parties are safe.  

Consult your attorney if you have one.

Burden of proof on them for delivery, and only you can accept it and release funds.Also, I would consult an eviction attorney and see if you can get a stipulated judgment for the eviction and make that a requirement as well.

@John Stone imo yes, you want a CPA who specializes in RE and who can also offer ongoing tax consulting (ie strategy).

Consult with the lawyer on this but from what I remember if you openly in possession of the property (live there) and pay real estate taxes for 7 years then you can claim the title.

@Wayne BrooksIf somebody hired me as a consultant and I tell my client I will be away for few weeks and my friend will cover is it fair of me ?

I would consider consulting a legal expert.