You want to repeat the good things and avoid the oopsies.

The key is to find a solid tenant to avoid issues down the road.

Im wondering about the location, path of progress or avoid?

It's not a pleasant process, and should be avoided if possible. 

My recommendation is usually to keep each property in a different LLC to avoid comingling assets and therefore risks to those assets, and to contact your insurance provider in order to ensure the LLC is an insured party under the policy.

2) there will be a decent amount of money owed for the arrears on the loan to bring it current, to avoid foreclosure.

To avoid legal I just sold out my shares.

Any chance you can speak more to why you would avoid joint tenancy or tenancy in common? 

@Ryan Ribinskas I would sell the house now and avoid paying capital gains tax, since you have lived there 2 out of the past 5 years. 

The tenant is interested in purchasing and I may give them the option since I've owned it for 2 years and I wouldn't have short term gains on it and I can avoid using any agents.