You need to cap the contribution ahead of time to protect your self. 

The tenants REFILED their Chapter 7 Bankruptcy the same day as our eviction, so the court chose to not execute as they are still under protection of the Bankruptcy Laws.The Hammond City Court closed at the end of the year.

I would appreciate any advice you may have on making this happen while protecting my money. 

Do they pay the mortgage via your payments, Do you make the payments to the lender.. if the payments go to the seller how can you protect yourself in the event that the seller stops making the payments to the mortgage and you don't lose the property?

Easy and gives the applicant/tenants and me a layer of protection.

I see people lose house all the time for not paying their property taxes.Sell the house to pay off debt before you lose it.Bankruptcy protection will not stop loss of property for unpaid taxes.

I would think that if the housing market dropped by 50%, you are protected in the form of having your tenants pay your mortgage, even if it is underwater. 

The vacancy will tend to go to the junk in the market.Let’s be clear, the entire world is suffering a significant economic impact right now.

Be sure that your contractor is licensed, bonded, and insured in order to protect yourself.

I’ve heard about self managing owners creating alias cards or introducing themselves as the “property manager” using a pseudo name for identity protection.