I often come across multi family deals that i know are profitable but explaining the concept of investing to the everyday individual is like i am talking another language.

Once you know the regulations regulating the business you will have the answers to your tenant questions and more.The regulations will include language regarding owner occupancy rights.

I don't allow any smoking in my units and have strong language / penalties if this policy is broken.

If you do that, I would also recommend that you write some language into your contract to allow you to leave the deal in the event that the problem is more money than you want to put into it. 

In regards to accepting rent with reservation, you can include that language in the P or Q.

It was under ROFR language.

I also found ResMan great.As for the leases, it really depends on the legal language on the contract themselves.

If you look back on your contract it will likely state this in the boiler plate language of the contract.

This was actually in the offer--some language about setting up the escrow account and monthly payment info (probably not the end of the world if you set it up at/around closing, too). 

I know the math is easy...but interpreting the language is a bit trickier.