I had tenants moving in with no pets and the lease agreement stated no pets as well. after a year or so I accidently found out that my tenants brought 2!!!

My initial thought was that the tenant would sign the lease with the corporation signing a lease guarantor agreement.

I still have the 20% discount on paint (thanks to the agreement: "BIGGER"), but am locked out of Elite. 

The above is true UNLESS as second lien holder you have an INTER CREDITOR AGREEMENT with the first lien holder.

A formal agreement would also be smart to avoid any confusion later on.Sounds like you’re in a good spot with the $80k to invest.

It got as far as him sending me the "purchase agreements" and a "promissory note".

A TIC agreement would deed fractional ownership of the property to the both of you.

@Shaun Hunt believe what you really want to do is start a "Master LLC" that can function as a PMC.You would then sign management agreements between Master/PMC & property LLC's and have all income & expenses run through Master/PMC LLC, and only have to "settle up" annually with the property LLC(s).Check with a qualified tax professional.

Additionally, I’ve been working on getting a solid purchase agreement and assignment contract.

Let your lender know.Notify your mortgage lender about the change if required by your loan agreement. 4.