CfD is a legal contract between you and a buyer (aka your tenant) that states for $x down (secuirty deposit) and $x a month (monthly rent) for x months, they can live in the home.

Some states/cities legally require you to renew leases if they have not violated one of the "for-cause" eviction criteria (destruction of property, late/no payment, violation lease, etc.)

Some states also require an annual license fee to own and operate an LLC so that could also cause a potential for increased costs there as well.I would consult with a real estate attorney to see if an LLC makes sense from a legal standpoint and advise your accountant as to your decision so the appropriate tax filings can be made. 

I am not sure if an attorney review will help with this, specific, basic level of knowledge.Just like an attorney likely won't call out, from a legal perspective, that you are investing with a sponsor who is 23 yrs old and been a residential loan underwriter for 8 months before trying to piece together a syndication.  

They may make unreasonable complaints about me and then I find myself patiently explaining the terms of the lease again and why things are the way they are.  

While it's not common for lenders to enforce this, it's still a risk.Lender Discomfort: Since the loan stays in the seller's name, if the lender becomes aware of the transfer, they may become uncomfortable with the arrangement, potentially complicating the process.Seller Risk: The seller is still legally responsible for the mortgage.

Bandit signs are not legal in most areas.  

I believe an emancipated minor CAN sign a contract is they are legally emancipated not just that they moved out of their parent's home.

Be safe, know the law, stay legal.

However, structuring this in a way that complies with tax law would likely require expert legal and tax guidance, as it involves partnership agreements and IRS regulations.