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In Utah there is documentation that should be signed either way just to define the relationship. 

What are my optionsThanks I would send him a photocopy of the signed off agreement and say "here you go, let me know your atorney's phone number".

@Matt Smith Hey Matt, A few items here: You can always offer the 80% of the listed priceThere is already meat on the beat, it is the $500 less than what you're paying right now, and YOU (no, sorry TENANT) is paying down your mortgageDuplexes are hard to come buy in your area [you found one of the unicorns-this is a sign lol] One item to watch is the number of rooms and bathrooms, which could increase your ongoing maintenance expenses, but you already have some capital set aside so you've got that covered too-you're rock n rollin!

The key lies in selecting decent properties to bid on.

If you think you’ll struggle with the interest payments and don’t expect an increase of income, then you’ll want to think twice before signing on the dotted line.Banks can also “call” a HELOC.

I am new to bigger pockets after reading the book on rental properties, becoming a real estate referral agent, and listening to some podcasts I figured I should sign up.

They could sign the land over and then maybe you could get a construction loan and use the land as collateral for the loan.

Sign up here!

Plus you should get the borrower to sign a personal guarantee just like a commercial lender would get signed.