We are selling some property on Land contract and I would like to use a loan servicing company to collect the monthly payment, and setup escrow for taxes/insurance.

Trust - b/c we have kidsShe did recommend going on wealth.com and creating my own (to your point @Jonathan Bock) - I'd like to see what else I might need.

We do not have enough capital for a significant down payment OR construction costs and so we are considering asking family members for a personal loan OR proposing a partnership.

Basically catch up all the back payments the seller owes to stop the sale and make their payment until you refi. 

Keep it simple and make those principle payments.

We also spoke with our trusted realtor; we had our realtor assess the home and of course our realtor suggested making some updates and listing it.

Wouldn't this property negative cash flow by about $400/month with a 20% down payment? 

I have documentation of payments and evidence he lives here and a rental agreement.

They will look at properties for us without payments because we are repeat customers putting food on their table. 

I look at about 1,000 properties a week and have clients all over the country including Ohio.If you could put your price range, down payment, expected cap rate, tenant type, location such as suburban or urban core, etc. then I could quickly tell you if what you are looking for is a 1 in 100 or a 1 in 5,000 property.