What you need is to study how to do it properly and understand all the risks.

Have a meeting and set proper expectations of what you expect of them and what they can expect of you.

If you are filing Schedule E (Individual tax return) you have to do that anyways. 

Also trying to start an e-commerce business as well. 

Most important for both is to know risk management and proper leverage. 

Pay someone to do the repairs properly who is insured. 

Has anyone ever done a deal which included a proper and complete residential fuel oil tank decommissioning having been performed by the seller personally (not a hired contractor), using cat litter, then never having the decommissioning certified/filed/inspected with the proper local authorities? 

Think about properly structuring either a Land Trust or LLC, then transfer the title into the entity. 

You also need to make sure the dryer lint exhaust gets cleaned out properly.

If you are starting from scratch, its important that the policy be designed properly so as to minimize the death benefit (and fees and commissions) and maximize the cash value.I write about the policy design aspects in this discussion...https://www.biggerpockets.com/forums/519/topics/245380-paradigm-life-infinite-banking-whole-life-insurance?