They both insist that there are creative ways to structure this deal so that me and my mother can LEGALLY , and secured by CONRACT, be able to collect the net proceeds, and split it 50/50 as her and I agreed from the start.One of the proposed arrangements I researched and sought legal consul for, and am fairly certain would in fact still be an act of fraud.A broker brought in an investor who proposed the idea of purchasing the Mortgage Note, and giving us the difference, secured of course in advance by a contract where we would agree to forfeit the Security(house) once the note was purchased. 

Or any thoughts on a good resource for how to lay out the terms for owner financing for something like this? 

But at what point do I collect the check from the buyer and once I do that, do I wait until the check clears then write out a check to the seller?

I'm collecting $1150/month rent.

This is my point of view "to tenants I say that property doesn’t hire vendors and processes AP by itself and to property owners the CAM charges doesn’t collect themselves (same for Rent).

Maybe you get the fine and never can collect from the tenant. 

I also have read many of the books on BP- they are a great resource 

I was originally going to make this just asking for book recommendations (which I still would definitely like), but ill take anything. Podcasts, websites, you get the idea. Anything giving good advice on how to hit th...

In which case you need to run the numbers to see what you could collect at the sale and work backwards to get to your desired return when putting in an offer.2 MHP doesn't hit your reserve which will then become an REO. 

Collect cash flow and save up.