It's not a formal document, just a simple paper that spells it out and gives them comfort you won't be taking them to court later. 

To use the @ function; hold down the shift key and type @?

I was looking to save some time instead of digging through all the court cases. 

I could go the small claims court route, but I don't know if it will be a problem that I cannot find a signed lease agreement.

The deal would beBid $100kdown $20kimmediate repair $5k from cashBorrow $80kMortgage Costs $799.43P&I $381Taxes = $297.50Insurance $90Mortgage ins $30Landlord costs $179Repairs 7% = 56Vacancy 8% = 67Management 7% = 56 Probably meUtility Costs = $290Elect = $110Water sewer = $70Gas = $40Internet = $70Expected rent =$ 1600 / monthTotal costs = $1268 / monthCash positive $332 per monthIt is messy with the situation and might go on to the court house before we can get in but what are your thoughts?

@Barry Courts, in addition to what @lisa Kohl has said you need to employ guerilla marketing and reach out to buyers outside of your zipcode and your state.

Mark, we meet all your qualifications, have done 28 flips to date and 7 more working on currently, so Inwould qualify if I were in CO.Angela, you would be surprised at the people who sell at a steep discount for instance probates that are full authority no court confirmation needed, and the families just want to sell the property to pay off creditors, and then divide the money amongst the heirs.

Court rulings on this kind of thing can be all over the place depending on exactly how the deal is done.  

Especially in a tenant eviction situation for  a service call make sure bring another person for a witness and also document everything with pictures, forms, etc.If it goes to court you need to have an iron clad case to bury the tenant in front of the judge with a credible witness, documents, pictures, etc.No legal advice given. 

Next is framing in the attic (remember we're turning it into a bedroom), new bath downstairs and the dormer in the bathroom upstairs (to address the sloping roof in the bathroom upstairs - right now the sloping roof is taking away some of the functionality).And we're still waiting for the plans (and permits) to be approved!