That doesn't seem right about having to chase your money - but would need a lot more info to provide a better opinion. also are you investing in one property and is your name secured or you giving an unsecured loan? 

Quote from @Jessie Dillon: one thing that you can do is have the seller transfer the deed to a living trust that they're the sole beneficiary of, and call the bank to give them a heads up that they're doing it for estate planning purposes. then, a month or more later, buy the property sub-to, and change the beneficiary of the trust. the bank can not see who owns a trust, and if they ever come back and question it, you can just swap the beneficiaries again, show the bank that the seller is still the owner, then swap it back again when they buzz off. this is one of many reasons it's so important to keep a good relationships with the seller if you're buying this way. you have to work together on some stuff.In summary: fraud. 

Cover my basis and send to the rental and the 2 addresses the one tenant provided via text? 

With that said Phoenix had one of the highest home price declines in the last market down turn.  

It’s a newly renovated 3-bedroom, 2-bathroom home, just one block from the ski slopes and four blocks from downtown.The current owner has been renting it out for $30,000 per month during the peak winter and summer seasons.

When it comes to finding the duplex and numbers working out, that one I can not answer. 

It would be a live in rental.I would have one bedroom to myself with access to the common areas.

They were perfectly acceptable 20 years ago, but now many areas are limited to one guest per calendar month. 

I'll bet you a cup of coffee no one has working keys.

Quote from @Antoine Black: I have a house that free and clear and I'm trying to tap in the equity can any one help  Hey Antoine, As Mike stated, your best bet is a local credit union.