When the parties eventually settle their dispute they will want an attorney(s) to draw up the settlement agreement with the precise steps outlined for dividing the proceeds of a sale or a buy-out through a refinance... as well as what occurs if neither happens. 

@Josh Welch I would have a rental selection criteria outlined and printed with applications, explaining what you will be doing; first come first serve, or all applicants will be processed and the most qualified  applicant will be selected. 

I want to be as detailed as possible to outline my criteria for the home search.

Let me start by quickly outlining my goals/strategy.

This can be done several ways, but most commonly through:- assignment of lease doc signed by seller which outlines the monthly rent, security deposits, lease term, utilities owner/tenant are responsible for and if the current tenants are up to date with rent - estoppel agreements which basically have the same info as assignment of leases, but the tenants verify and sign off to all of the info- copies of current leases which should match the info outlined in the assignment of lease and estoppel docs

I'm not an engineer, however I am a contractor and he clearly outlines the process to fix your issue 100%.

You might be stuck until they expire and you can write them the way you want them to be.Does the lease outline who can live there and what the consequences are for having unauthorized occupants?  

Just make sure your purchase agreement and/or your assignment of rents agreement has the transfer of deposit outlined and you'll be all set!

Banks don't give out lines of credit to LLCs like it's candy, let's hope you have an 800 FICO! 

(If your attorney creates a Land Trust there is no foreclosure)  Your attorney will have all the resources to complete all of the other items you outlined in your question.