I would have to assume it is not a guarantee on the 12%, but instead a guarantee that if they don't make 12%, then the company doesn't make money or some other stipulation.

Do not assume anything will get done by others until you get trusting of them especially those things you are responsible for. 

You did not mention how old you are but I assumed you were fairly young.Just to give a little bit about me and why you should listen to me. 

I'm assuming in a subject to scenario, that this tax would apply, which makes subject to a lot more expensive to do in DC.

Assuming the low end that would be $66.67/month. 

Not sure how my business is going to go this year but assuming I have $2k month self employment income, no debt, $50k cash reserve, and an excellent credit score...What is the likelihood that I will qualify for a mortgage?   

Im assuming 99% down would be fairly accurate as that would be a sign that there is a mortgage reported and therefore the 100% equity default isnt in play.

So assume you may have to go all the way to the sheriff removing them from the property.BTW, Utah law is now 15 day notice (not 30 day) when tenant is month to month and you are asking them to leave at the end of the monthly rent period.But definitely turn this over and don't mess around. 

After running the numbers with all of the expenses and assuming I can charge more in rent on the renovated side, I have determined that it is a good deal and could even have positive cash flow after some more renovations are made to the other side after the tenants move out. 

Yes, assuming it was actually available and in rentable condition.3.