The party named on the lease/rental agreement as the tenant and/or guarantor paid the rent.If there had been the need to evict, we would have negotiated a move-out plan first.

You may be very confident that it can appraise at a higher value in a year, but be conservative and assume it will not go up in value.

Great idea, just as long as the house would cash flow after the cash out refinance, ALL expenses are conservatively estimated, and you keep some cash reserves to handle any unexpected capex, vacancy, etc.

For the most part I agree with you but I do have issue with point number 1.    

They must secure the home and be the party responsible, not sure you want to take on that risk, with no safety net.

Third party?

The thing is Im not sure how to do all the financing on my first couple properties that's the part I fear the most is how to get started and how far it can go. 

Which states:In the event that the PREMISES is not rented or leased within 60 days of the date of this Agreement, or remains vacant without being subject to a lease for any 60 day period, either party may terminate this Agreement upon 30 days written notice to the other jparty of such intention to terminate.......My advise is to re-read your management agreement.

Correct me if I'm wrong, but in NY and NJ, the RE Agent typically does initial negotiation and from there both parties hire attorneys to draft the Sales Contract and handle closing. 

@Terry KoeppIf the Roth IRA will have an equity stake in the transaction, you will likely want a Checkbook IRA LLC as opposed to having a 3rd party custodian process all of the transactions.