So that is how we got rolling in the early years.I do suggest that method, as we benefit from debt pay down, appreciation, inflation and the renovations that we do.  

The added benefit of this process is that you can also have your attorney sign the public records as "Nominee Trustee" before assigning yourself as the "Trustee" once the trust has been established.

The point of all of this is for him to benefit from it, make passive income and i get to know he isnt working anymore.

Just tell them this is business, this is your adjusted offer and leave it with them. 

One of the great benefits of DIYing for us, it turned out this year. 

You have an advantage of being able to live in the house and see where the market is in a few year (building equity) and adjust from there if needed.

look at utilities and other added benefits you could upsell to your tenants, but it looks like you have a great deal, just screen properly and be professional firm and courteous to your tenants.

You'd also benefit from the best financing terms when buying primary residence vs strictly an investment property. 

I have done my due diligence on the tenants, would like them to stay, and the previous owners have a thorough lease in place that I don't feel I need to make adjustments to.  

At this point with only 6 months left to wait, increasing interest rates, as well as higher debt load from remodel, it may benefit over the long term mathematically with the secured lower rate, because the margins in Denver are tough.