if the seller is not willing to communicate about the subject. thank you If you are buying this via a broker, that should be spelled out in your contract about getting copies of all the leases so you can perform your due diligence.

If they are passive, this could spell disaster with the SEC or in court if things go south.

That should spell out all the fees.

If you have an agreement but no documents it's hard to do due diligence... so I would spell out when the "clock starts" for the due diligence period to make sure everyone is on the same page. 

-install a gas leak detector or alarm in the rental unit-spell out in lease agreement that tenant is prohibited from removing the gas leak detector and that tenant must notify landlord immediately if at any point the detector stops working-do semi annual walk through inspection of the rental unit to make sure the gas leak alarm stays installed and is working properly and that the gas stove is working properly.Is there anything else we as landlords can do to minimize our exposure to being sued in the event of a gas explosion in the rental unit ?????

They do not sign the lease; they sign a cosigner agreement that spells out their obligations and their limited rights/responsibilities.

In these legal situations nothing can be implied all has to be spelled out.

A schedule of values is basically what you have spelled out above. 

If so, you should also have a contract signed with your managing broker stating the exact splits.... the contract usually spells out the benefits you receive (training & leads being the most common), as well as expenses that you need to cover (postage, possibly supplies, folders, etc.)Many beginners are unaware of "how things work" and so just feel grateful to have anybody "take them on" and show them the ropes.

In other words, you and the relative should have a legal document spelling out the terms and conditions of the loan, just like if you're borrowing from a stranger.