,Thank you so much for your thoughtful response and recommendations!

I love that there is a forum for being able to ask questions like this in and get a great responses back.

@Caroline Gerardo  My response related to reserves was a reply to this statement in your post: "In addition to down payment you need reserves which is 12 times or 24 multiplied by all you debt.

Greatly appreciate each and every one of your responses.

Plus the other benefits outlined by the responses in this thread. 

You should have a clause in your lease agreement or an addendum detailing their responsibilities along with penalties for violations.At Keyrenter North Jersey Property Management, there are a couple things we always go back to when making these decisions:- How can we provide the best value/service to clients and tenants?

Half the time they may not even realize they are acting as the GC and have that added responsibility or what that entails.

Much better you place the burden on the seller than accept the responsibility.

Most of the time the tenants are responsible for the deposit.

Thank you so much your response.