After I transferred him the money for the property, he sent me a Warranty Deed along with the house keys.

There's nothing wrong with offering someone an opportunity to succeed and then enjoying the profit if they fail to follow through.Think of it like a credit card with 0% interest for the first six months on all balance transfers.

If the last recorded deed holders are dead and the property has gone through probate usually there is an affidavit from the personal rep of the estate recorded at the registry confirming their ability to sell the real estate, or a new deed drafted transferring title to the appropriate person according to will or laws of intestacy. 

"INSPECTIONS: This contract is contingent upon the Buyer’s and Buyers’ Partner inspection and approval of the property prior to transfer of title.

I'm just not sure it's worth it, it sounds like a hassle (transferring properties, getting everything set up again, etc).

Can't assign or transfer contract, so plan on selling the LLC, that way purchase contract will remain the same.

The new owner doesn't have proof of transfer of the mineral rights only land ownership.

Transfer (inherit tenants)2.

Here in the Bay Area, lenders are notorious for disclosing without the local transfer tax, which can easily be five figures, to lure consumers into thinking that they have lower "closing costs."

So the new buyer is paid up for the month of December, however now I have transferred the property and was not able to collect rent for the month.