Great write-up on how you found the property. 

Also I think I am going to have them sign a new lease with me but I have no idea what needs to be on a lease to watch my back and so its all in writing. 

I'd need to carefully spell out (in writing) the pros and cons so everything, including our expectations, are very clear and understood.

Write the strategy(s) out on paper before going to steps 2 & 3 and try to condense and simplify the explanations of the strategy(s) as much as possible, 3-4 steps, focusing on the questions of "How is this creating value/cashflow?"

Glad you're enjoying, like I mentioned above if it's helpful to only a few others it was well worth writing.  

The talents made a couple late payments last year, which, I think, is acceptable.  

People want to write winning offers.

If you don’t know how to write your own contract and negotiate the purchase then I guess a realtor could be of a service.

Being that you are a studio it would mean one person but again, having this in writing on an advertisement opens you to the potential of violating fair housing advertising rules. 

@Jeremy ClendeninIt is not clear in your paragraph what streams of income you have at the moment where your "tax guy" can allow you different ways to show it.You may be eligible to make elections that allow you to capitalize expenses instead of writing it off in the current year.