I am missing 2:1) Insurance indemnification form2) a good lien waver for GC to sign before receiving final payment Any help would be appreciated!!

Waverly, welcome! 

No state has the constitutional right to wave rent for anyone....unless the state says they will pay the rent. 

We might use River Bend LLC, or Pheasant Crossing LLC, or The Woods LLC, The Cliffs at the River LeBeau, Lincoln Park LLC, or Waverly Meadows LLC.For rental perhaps you have several on Main Street in your town, possible names would be Main Street LLC, Chicago Main Street LLC, or if your building is at the intersection of Main & Lincoln Street, something like Lincoln Main LLC.

@Waverly RennieI bought my property in MD and not Florida so there will be some differences.  

Mill Hill, Coppin Heights, other West Baltimore neigborhoods, I have clients that invest around 28th St. up towards Morgan State and this is where the prices begin to increase, but still section 8 heavy like Northwood, Waverly, etc.

I'm not going to nickel and dime the property, but I'll have set values that I will stick to and won't waver unless it is a concession I can make work within the analysis I've done.  

Now maybe I could do that and get him to sign a Mechanics Lien waver (learned about from RocketLawyer) and he might do that.. then I can work with paypal and credit card to do charge back.

I bought a HUD house at auction in Waverly (where I live) for $37,000.

My inspector, handyman, and even one of my prospective tenants (a pilot who used to be a contractor) is advising that I pass on this house...this would definitely be our biggest repair job yet and the foundation issues scare me, BUT the numbers appear to work, so I'm wavering.