If you arrange the deal only licensed realtors/broker get a commission to put deal together.

They have the same situation as any tenant (assuming you have them on a lease and not simply a handshake arrangement) except for one factor:  they live with you. 

Here's that letter:Dear _____________________________,Your rent is now past due.Please pay your rent promptly so you may continue to live in the unit that you now occupy.As per your rental agreement:Rent is due on the first (1st) day of the month.Rent is late on the second (2nd) day of the month.We allow a grace period through the fifth (5th) day of the month to pay your rent without incurring a late fee.On the sixth (6th) day of the month we charge a late fee of fifty dollars ($50.00).If we do not receive your rent in full in a timely manner, we will serve you with a 3-day legal notice, “Notice to Pay Rent or Quit”.Each time we serve a legal notice, we charge an additional twenty dollars ($20.00) posting fee.If you do not follow the terms of the “Notice to Pay Rent or Quit” we may then begin eviction proceedings against you and you will be charged with the crime of “Unlawful Detainer” if a judge upholds our claim.The amount of rent now due, as of today’s date _________________, is as follows:Current Month Late Fee_______________Current Month Rent_______________TOTAL DUE_______________Time is of the essence.If you have not already posted your rent via the mail, please call us immediately to make arrangements for us to collect the rent in person.Thank you for your prompt attention to this matter!

@Toni Baca Please don't hesitate to reach out to me if you would like a copy of any of my documentation or to chat about the benefits/pitfalls of this kind of rental arrangement, especially if your home is in Denver.

This way I can plan to make arrangements with real estate agents and loan officers in advance.

There is a similar duo in my market that I've gotten to work alongside a few times and the arrangement I see with them is that the GC does everything at cost and the partners share the profits (50/50 for them, but whatever makes sense for you guys consider risk exposure and buy-in).A word of caution . . . as I'm sure you know trim carpentry (and any subcontracting trade) IS NOT general contracting and effective labor management. 

In fact, this sounded a lot like a lease/option arrangement in many ways minus the option part.

Again this will involve babysitting though and an arrangement with a tow company willing to work with it...

I have arranged financing in the event I want to pull the trigger (20% down).

She had a for sale by owner agreement (secret agreement) that she had arranged with the tenant that the tenant showed me.