They are currently on a month to month lease agreement.

Prepare a legal and good Lease Agreement.

I know I inherit them, and all the agreements and forms they filled with the original owner.

You can bring the financing and take down the property in your name and have a JV agreement on the side.

Purchase Agreement is for $145k FHA loan w/ 3.5% down.

With a swap agreement you are actually getting two products to fix the rate at 5.75% (a hedge to fix the interest rate).   

We did 7 rooms as a "sample" and had each phase of the work inspected by the building inspector - framing, insulation, dry wall, and final c/o.

I look forward to establishing those connections and finally getting started. 

Go with your gut and make sure you can get out of the agreement whenever you feel like.

Verbatim from Mortgage Agreement...The mortgagee may declare the full amount of the debt to be owed and payable immediately for any defaultthe following defaults are:-The agreement states that if mortgagor fails and defaults to make Payment required by Bond or Note or mortgage within 15 days of due dateFailure to keep Any of the promises and agreements (which their was non of the above, he doesn’t even answer our calls) within a reasonable time stated.So now, with this type of situation.