What additional forms should I have them sign or what stipulations should I place on the use of the pool/hot tub?

As far as I know FHA is only type with that stipulation for “intent” to live there after discharge/retirement.

There are also other stipulations you can use to remove tenant prior to the contract length expiring. 

Who says eventually he couldn’t move in with you since he’s already working on the year long “primary residence” stipulation on his mortgage?

I know FHA and other primary mortgages have a 1 year stipulation for homeowner use and certain reasons you can be excluded from that requirement.

Lots of stipulations can be added into an owner financed deal to squeeze the buyer. 

I’m renting 1 room out for $950/month, condo is currently cash flow negative by ~$400/month but I don’t mind because a stipulation to my loan (VA Loan) was that I needed to live in it for one year, I’m currently paying $1650 to cover the rest but a 1 bedroom rental in this zip would be upwards of $1,800 + utilities) Currently working 3 jobs and running a small online business to save as much as possible to make my next move.

@Mike DornemanYou could also stipulate in the contract that the owner must provide written month to month leases at closing.

The rental agreement stipulates a 10% for late rent, but the management agreement does not say where that 10% goes.  

This is normally stipulated in a lease under forms of acceptable payment.