I understand it’s difficult to sue an LLC, however due to multiple late payments, non payments and bouncing checks from issued by the companyover the past year I strongly believe the company was using rental funds collected from my property for other interests as they could not regularly pay me. 

An eviction filed on non-payment requires a different process and paperwork (5 day notice to pay). 

Regardless of my interpretation, here's answers to your other questionsWays to find rentersLocal property managersFacebookCraigslistZillowRealtorThe execution of the lease option works as followsGet a well written lease option contract from a lawyerHave the renter fill it out and pay you your non-refundable "lease option fee"Determine the length of time the lease option is good for. 

@Cesar Chin You can only get a HELOC for 90% of LTV if you are owner occupied and 65-70% LTV for non-owner occupied.

If you wouldn’t want to live there yourself then keep looking because even though it looks good on paper the cheap properties with non stop tenant issues is what is going to make you want to sell within a year... which you then can’t do because the property hasn’t appreciated at all ha.Worcester has a ton of great areas for a bit more money!

If using a lender this is a non issue.

Going from residential to industrial is pretty dramatic unless the residential use is non-conforming and the city is looking to eliminate that use.Good Luck.

Deals on foreclosures are, more or less, non-existent these days.

If you have partnered with your Ira &  lend $$ from your IRA in the scenario described it will be a “prohibited transaction” and blow up your Ira. see if you can get a non recourse loan from an allowed person, Ira, or company. 

On another note, be careful using the term non-refundable deposit.