That way, you can objectively weigh the risk-reward tradeoff of the various options available to you. 

I have come to believe that in order for each party to meet their respective objectives both sides must meet in the "reasonable" middle.

I have some money set aside and have been monitoring the 20-40 unit apartment space but it seems that the new buzz word is syndication. 

Screening is very fast and complete - I can elect to accept CC and set the convenience fee (I do charge a tad above costs), and I find its pretty easy to reconcile a tenants payment via "serial number" or transaction ID reported to the bank with both Rentec accounting AND quickbooks - albeit Quickbooks is still manual for me (you can export from Rentec to Quickbooks via CSV... havent got that far along yet.We literally just completed several rehabs (meaning LOTS of expense), so seeing rents come in quickly and accurately is a relief for a change!

My goal is to buy the property via lease option purchase and then resell it with a lease option purchase and cashflow while waiting for the new buyer to qualify for a loan.My concern is that the monthly payment could eventually exceed my cashflow.My original thought was that I set a fixed monthly rent amount in my lease purchase agreement with the seller, and anything above that is his responsibility.But my concern with that is what if he doesn't continue to pay the mortgage?

I've been speaking with my CPA (who obviously isn't a lawyer) & my compliance coach from the business who set up my first LLC. 

They are two entirely different skill sets.

I have set up a Single member LLC for him, and am wondering if I should put him on payroll with his other employee(s), what would be the best thing to do as far as taxes and accounting go?

Set goals to go out and view houses, even open houses.  

Usually these issues can be solved with good communication and good boundary setting (if not, you need to think about getting rid of the tenant).