The old contractors are often bitter and may want to make up for whatever went wrong before you got there.Clear title including signed mechanics liens would help.  

In case it helps, the "tenant" (squatter) is actually a relative who I suspect is bitter because his daughter (the granddaughter of the deceased), rather than he, inherited the house.

If we are going to participate in the discussions and learn from so many experts on this site, we should AT LEAST follow the rules of this site and respect them, so no need to be bitter Joseph.

I don't know what attendance will be like with the bitter cold we're having, but we have lots of experienced investors who come to the monthly meetings.

You should not use it to actually commit to a purchase.The other thing to remember is the $500k property is going to have some kind of association fee or building fee and in downtown areas that fee often rivals the mortgage payment.

@Amalya Winters now that we have more of the story it honestly sounds like you're bitter about the fact the seller is making a profit because you don't think it's fair.

It would just depend on your specific scenario and require some negotiating to find something that is comfortable for you both. 50/50 is great, but I've seen some investors get quite bitter because they end up putting in more time than their counterpart and it usually ends any future partnership prospects.The limited partnership and LLC structure seems strange to me from what you mentioned, though.

Their mood can be sully due to the fact that their hopes and plans of moving have went down the drain, and simply out of bitterness won't want to deal with the house at all for a few months.

I've had a few that are simply not solvable, because exes tend to get pretty bitter and nasty during divorce. 

I don't want them to be bitter and trash my house.