Usually a Single Member LLC would suffice IF you go the route of an entity.

A hundred dollar window unit would've sufficed (and you should've supplied it initially to a avoid this situation)

I won't give my entire life story, but just suffice it to say, I didn't have a great example.

I think that you are under the impression that you do not think that you need a "contract" and that just the "estimate" will suffice. 

Max Purchase Cost: $250,000Would like to have $40k-50k total in available equity through a mix of purchasing below market value and ARV (plan to have realtor pull ARV comps) (would like to eventually refinance and pull out cash so that we can both purchase another investment property)Exit Strategy: We plan to either rent or sell the property (depending on our agreement)Financing: We plan on using a FHA loan for 3.5% down (we have offer letters from our companies which will hopefully suffice to gain financing)Schedule: 1)We are going to find a realtor in the area2)Get pre-approved for financing3)Make offers on homes ($40k-$50k below market or to allow $40k-$50k increase in ARV)

Would it be beneficial for me to re-draft a lease with MY details or will the current lease suffice under the understanding that I am the new owner.

A fair pet deposit should suffice with the understanding that having the pet will be contingent on the dog being well trained.

They will ask for proof of this and a mortgage statement showing just her name will suffice. 

If you are getting the type of applicants you desire and the rent would suffice your required numbers, then I think you're okay, especially if you've marketed and shown at current rate.

I don't mean to imply improperly or anything like that but suffice it to say, they are a tight nit group.