She just didn’t want to be the person that caused them to have to leave so I bought it with the added stipulation they could have up to 6 months to find another place at the current rent- that sealed the deal/sale so you can use this to your advantage as well and  in my case, I explained everything as you did.

I think it is a great way to get into a property with the stipulation that you live there for 1 year. 

If you don't receive rent at the end of the period stipulated by your state's landlord-tenant laws, let them know you're starting the eviction process. 

Do PMLs and/or HMLs usually have any stipulations on how the property is being used while there is a loan on the property - whether the tenant has to be short-term or long-term?

Hey Angela, yes, I think its best to spend some money on getting a lawyer to help you guys stipulate the terms upfront, as it can get expensive if things aren't legally stated going into a partner. 

I would feel comfortable going 10-20% below market with stipulations in the lease about future yearly increases.

State late stipulates that if it is exactly on property line the neighbor gets a say, and can also be billed for a portion of it, and taken to court if not paid. 

Does your contract have a stipulation that the financing application must be in within a certain amount of days.

Do make sure that there's no stipulation in the HOAs that you must use the building's property management - that's occasionally a requirement.  

While they will have operating stipulations and other guidelines set forth by the brokerage they are associated with as well as regulatory license law etc., the Agent is free to operate as they see fit with respect to having exclusive agency agreements in place.