My partner and I have come to an agreement with the friend on a purchase price (that they would receive when the renovated house is sold), and we will have an agreement drawn up by an attorney outlining the terms.

The eviction was filed Friday after the 10 day (as outlined in the state statute) notice was given (in accordance with the statute).I should have specified.

Remove those outliners.2: condition of the houses soldOriginal condition or remodeled, adjust as necessary3: recent market trendGoing up or down?

I'd make this guy an offer as I've outlined....worste thing he can say is no.

That is the average duration of a housing cycle from peak to peak as outlined by this article.  

Is there a website, book, resource, or person that you could recommend that could outline this process start to finish? 

Maybe if we have a separate contract outlining the $80k to be paid later, we can avoid this?

You need a promissory note (which outlines all the details of the loan) and either a mortgage or deed of trust, depending on which is used in your state. 

Really appreciate you taking the time to outline the different scenarios for me!

Just outline it black and white in your notice if there could be confusion.