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.)

For Texas  SUBCHAPTER H: UTILITY SUBMETERING AND ALLOCATION §§291.121 - 291.127 Effective January 6, 2011 - https://www.tceq.texas.gov/assets/public/legal/rul...

Some states may restrict closing in a personal name, however this would be a lender specific guideline. 

I've been trying to find a definitive ruling on the subject for MD, but it seems there are just general usury guidelines that a landlord SHOULD follow.

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.  

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.