I work with tenants that have credit issues, if I feel as though they have good intentions based on our conversations, I will give them a chance, but I stay on top of the paperwork in the event they don't pay, then I proceed with eviction, so I don't lose a lot of money and I don't have a heavy turn over.

And to be clear, the situation is, the borrower can't afford the home and you may have paperwork that if challenged, you may not be able enforce.

Is their some specific paper work you need to fill out with the realtor, or is this something you can tell your title agent and have them get a check at closing?

What paperwork should I use to ensure the commitment of a new PM lender?

I will handle all the paperwork.

I would explore how these units were converted and make sure everything is in order with proper HOA paperwork, etc.

Would their be any more paperwork involved when doing transactions with the property such a buying, selling or financing?

When a bid is accepted, you then have 48 hours to get your EMD and signed paperwork submitted to HUD.

I took over payments, then owner financed to someone and both sides have proper paperwork signed and recorded along with giving 10% beneficiary rights to person who has the mortgage with the bank.

That could be that they have a line of credit with an investor friendly bank, a home equity line of credit, actual cash or any number of other ways they can access cash to close the deal.You do all the paperwork; not a mortgage broker.