If you were able to use the standard TREC lease agreement, there are many items that protect the property/landlord in there. 

My rental property has sprinklers in the yard yet tenant will be responsible for paying for water.  

I'd look for signs of arcing around those outlets.Other things I look for are how is the foundation, cracks in the walls (assuming lath and plaster), condition of the mechanicals, depending on what the house is built on, I may get a radon test done for the air and water (near me there is a lot of ledge, so radon is an issue in most homes). 

Starting with a private lender loan and standard tenants may be simpler for your first property.

Do either of these platforms offer anything unique as opposed to the standard "lease renewal reminders"? 

It could have been much worse.In FL standard liability is around $300k which you can increase. 

If they require an appraisal, they will likely cut the loan amount, too (standard LTARV is 70%). 

I mean if its standard, and theres no way around it, then sure. 

He only pays $325/month.For people interested in the numbers:Purchase Price: $250,000Rents when fully occupied are $5,500/month (most units rent for $175/week) My monthly expenses are roughly $2000/month (working on lowering this buy buying the Water softener isnt of rent, switching the internet/cable company, and adding insulation in roof to lower my utility bills)The best way to get started is to just get started, I dont have all the answers but it seemed like a good deal and a great learning experience! 

I'm an agent in Oklahoma and we have a Seller Finance addendum written up by the state real estate commission that functions just like an FHA or Conventional Loan addendum to a sales contract.This is, of course, standard when you purchase a home with bank financing.