It is also one of the most cumbersome in terms of paperwork and inspections, though FHA is no cake walk. 

I was interested in how that process worked so he shared their paper work and what they went through.

You should be able to find a title company that will draw up the paperwork; if not, real estate attorneys are everywhere.Hope this helps!

The builder I spoke with said the time it took for the paperwork(permits, etc) was the biggest issue.

Deanna McCormick Is it then different paperwork that I'd file if she destroyed the place, since she'd technically be out of the property so it wouldn't be an eviction?

To answer a few of your questions:I essentially will be the work horse:  Find the the deal, I have all of the contractor connects for any rehabs that need to be done, negotiating the deal, and managing the deal.I do not have any of the money in the deal so how do you structure this?  

I am closing on a second home and would like an attorney to look over the paperwork. 

I am very confused with how the process works and all of the paperwork that I need to submit to a loan servicing company.

I thought that's what you are supposed to do when someone gives you a deposit to hold and says I will wait over 30 days to move into your home, signs a bunch of paper work holding them contingent to approval.  

Have them sign paperwork that the systems are up to code.