At that time, your attorney will plead the case using your 1st month's rent and deposit as the basis of your claim.Not sure how your laws apply, but we can establish a person as a "resident" after they have lived in the property for 7 days.As I have often recommended other clients... 

Person A lived in their home 15 years and has $50k in equity, Person B lived in their home 5 years has $16k in equity.

I personally like buy and hold for the net worth it builds for a person as well as income.I would stress, though, with BRRR, that means you'll be a landlord.

On the below agreement I was 'person A', and another note; I purchased the home only in my name, 'person B' was not on the title, I controlled all funds.

For my private lenders I put them all in first lien position.Ex: if one lends $75k and another $25k for a $100k loan then person A would have 75% of the lien and person b would have 25%.You could do that for the second lien.

I was able to hand it all to the new person as a package so that he had no questions or issues.  

I will say that after schools starts, it does slow down, but we still have move ins throughout the year.Is this person a Licensed Realtor with access to MLS, and what “exactly” are the other avenues they use for obtaining renters.

When a doctor wants to relocate his business, I want to be the person he calls for property or demographic research, or I want to be the person a local broker calls when he needs help with forecasting.

"FirstName LastName, a married person, as their sole and separate property."

You could also look at connecting with investors in person as BP members  meet up and REIAs are all over.