My lawyer next sent a demand letter with the total amount, and after weeks of no response, he finally at the deadline dated by the lawyer, indicated that the wire transfer was put through to my lawyers account.

@Mickey Bradshaw I agree with Chris on the "skin in the game" response.

There are "smart locks" that will even automatically lock out slow paying tenants.

However, the buyer is responsible for verifying info.

Thanks Rick for your response.

For example, is their daily rate $50/day, and their accommodations cost more than that per day, would landlord only be responsible for $50/day?

I think a lifelong lesson of mine is to slow down, breathe, trust the process, and take it one step at a time.

I am sorry for the late response, I am looking to to do deals locally and out of state. 

The owner is responsible for paying all of the expenses, and will be entitled to all income generated by the investments IRA owns.You personally are prohibited from paying any expenses on the property your IRA owns. 

Also before you decide to buy a property you need to have an Operating Agreement created by an attorney clearly detailing each person roles and responsibilities.