Trying to figure out what to do with it.My goal is to create passive income.I was thinking self-storage or even document/record storage, but it seems that the space is too small for that.Another idea is laundromat on the bottom floor and something like a barbershop on the top floor.

I thought it would be nice to include a one-page document explaining what a judgement means to someone it is levied against because I don't think the tenant left the court house understanding.

an operating agreement is basically the contract between you and your partner, and not an area i'd skimp on. the operating agreement is the guiding document that sorts though the rough times...should things go south. and they do, sometimes even with family ...

in CA its a few documents with the authority.

http://www.com.ohio.gov/documents/real_HBGWebVersion.pdfA real estate broker is required: http://codes.ohio.gov/orc/4735.02 but by definition in http://codes.ohio.gov/orc/4735 you are not 'for a fee' or 'for others', performing broker functions: "Sells, exchanges, purchases, rents, or leases, or negotiates the sale, exchange, purchase, rental, or leasing of any real estate..."

What is the best way to provide the documentation necessary?

I was thinking of creating an Excel document to keep track of them.

Should I ask the seller for "insurance" on the rent- Basically have the seller sign a document stating if the tenant is late I can collect from the seller?

You can do this yourself but be sure you document when and how the form was delivered.

What documentation do I need in writing from bank that verifies that they are done with the loan and fees and won't bother me?