If they can provide you with paystub's from their current jobs, that would suffice for me.

That include dog bite as well.Do I ask her to get a separate pet liability insurance or current renter insurance with 300k liability coverage mentioned above would suffice?

@Mike BossThere are several considerations that can go into the analysis of whether you need an LLC or whether a large insurance policy will suffice.

Is the commercial space suffice for a storefront alone?

If you were raising money from investors then maybe consider a corporation but if its just you, LLC should suffice.

If you want protection, insurance (umbrella policy), properly structured LLC (just placing in an LLC typically does not suffice), etc. is the more appropriate protection.  

I wanted to know if the loan must be under my name or the my name in the deed will suffice. 

Twice a year should suffice.

Here's a quick "laundry list" of lease paragraphs...this is not all inclusive as each lease may be modified and negotiated by both counter parties....but it should suffice to kick start a discussion....Firstly, Keep in mind that the laundry vendors have written the leases they prefer to use and generally it's written to their benefit but if you read the leases carefully you'll find there are areas that are negotiable and non negotiable.

Suffice it to say there are several ways to do this, and I have experience with getting conventional loans for 1099 workers but it is not at all a once size fits all situation.