Every street seems to either have a dumpster in the driveway or new custom homes being built.  

It is not my fault the seller made mistakes in the past with their accountant, life issues, bad partnerships, etc.I have been doing this a long time and know how to protect my interests in a deal.

And the fact that your equity if protected from bankruptcy (amounts very from State to State) is an added benefit. 

Protect yourself.

In general do you know how to prospect and generate business, present, close deals, and serve customers?

He shouldn't need much more than that and wouldn't ask for permission to "market the property for sale" - if he's not representing you as a fiduciary agent (which requires a license to protect YOU), what interest in the property, as a principal, does he have in the property to market?

(It goes without saying that you don't do this based on a fair housing protected class.)In the long-run I think being strict will probably pay off.  

It protects you, just in case they don't pay their rent.

The quitclaim deed doesn’t guarantee that the title is good, or even that you own the property.Because of the protection they provide, warranty deeds are typically used to transfer property between unrelated parties.

Essentially, this is a tear down...A custom builder has recently scraped 5 lots of similar size directly across the street that are offered for $100-120k with a minimum build price of $300k+.