Leave it to the experts is my recommendation on drafting all the documents after the terms are agreed too.

You would have ongoing filing requirements with the State and would need to keep business records and documentation.

In a “nutshell”What can work - partnerships where each person brings a different necessary asset (knowledge, experience, time, capital, credit) to the table, the responsibilities, rewards, and expectations are clearly spelled out, legal documents are created to head off disagreements, and the parties are compatible.What doesn’t work - partnerships formed by two or more inexperienced people looking for “comfort” rather than going it alone, and anything other than the above. 

In practice, it can be difficult to not sign your name on some publicly recorded document, or some other document that can be gotten a hold of... 

If you have great documentation W-2 type income and you are not looking for the exact same thing that everyone else is looking (eg, a condo in a tourist area that won't allow airbnb's anyway) or a small multifamily in metro San Juan) then you may be in luck. 

Money order is an added protection for the tenant because when the payment platform is hacked and everybody’s information is stolen, the tenant’s information won’t be there and therefore cannot get stolen.Look at the agreement documents the platform forces you/tenant to sign.

Regarding your question, earnest money, in my experience, has always been documented on the actual sales and purchase contract that you have with the buyer, and not on the assignment fee.

On one document I received it states: "The individual (applicant) is mentally competent but due to age or physical infirmity is unable to manage his or her property and affairs effectively and, recognizing this disability, has requested a conservator's appointment"It also states the conservator is: "conservator of all assets of the individual's estate".What I'm wondering is do I need the conservator to also be the co-signer on the lease?

This helps document the issues and if things go beyond the notice period you are all ready to move forward.

I see buyers getting surprised by this often when buying older buildings.The more time you give an agent to quote the better the chances of getting a competitive rate - a lot of buyers start calling agents when they are going to close and want it NOW NOW NOW> you will pay more this way.Give the insurance agent a week or two to shop the rate and get the agent accurate documentation proving the age of updates to the roof, electrical, plumbing, hvac, etc and good photos of the property to allow them to sell the property to underwriting.A lot of people don't realize two sales are made for an insurance policy - one to underwriting and one to the person buying the policy.