For both the applicant(s) and a co-signer, you want to understand their habits...financial, employment, legal, character, etc., as Bad habits in one area typically carry over to other areas, and will land you a poor Tenant (or co-signer) choice.

If the rents were collected after closing and they were not addressed in the sale, then you shouldn't have a legal obligation to give them anything.

BP has some and also you can use Legal Templates to create one.

This works well for me but one thing to note about this process is you absolutely need to know your local and state laws very well so that you don’t break any rules or run the risk of being accused of discrimination, because you will be turning people down and should have a legit, legal reason not just that you don’t like them.

Assuming that the act of wholesaling is legal in your area, have all the costs associated with closing go through the title company. 

It may also help keep the litigation target off your back.As always, check with your competent legal counsel--not all attorneys speak fluent "trust function and formation".

Time the Sale Strategically: Selling the property in a year when your income is lower can place you in a lower capital gains tax bracket, reducing the tax rate on your gains.8.Deduct Selling Expenses: Costs associated with selling the property, such as real estate commissions, legal fees, and advertising expenses, can be deducted from your sales price, thereby reducing your taxable gain.9. 

She's probably using one floating around the office, one you provided, or one she bought from an attorney that's full of legal jargon and missing important clauses.

@George Fleming Better make sure it's legal to do that.

It is the IRS rules around short term rentals.Loophole - A way of avoiding or escaping a cost or legal burden that would otherwise apply by means of an omission or ambiguity in the wording of a contract or law.