I have a few questions...How much do you usually set aside for “overhead” - drawing up legal documents etc. ?

History tells me that a decade or so from today these prices will seem low.  

I can ask to see their visa to verify that they are eligible to live in the US for the duration of the lease and I can require documentation of proof of income or ability to pay rent that meets my criteria. 

Read everything you can until you find a deed that describes the property as a 5 unit, likely in that same document you'll see a drawing of the property. 

An HOA is listed by name in one of the legal documents, but no organization actually exists in reality. 

Use this time to figure that out (and have all your documents) and it’ll be smoother!

Basically, it just states that you need to give "reasonable notice" which the attorney told me is typically interpreted as at least 24 hours documented notice.

All documents regarding this loan transaction will be sent to you as we proceed.

Also if a deal presents itself at a REI how are agreements documented? 

I would also document everything and get a judgement for ALL of the damages.