Qualify the lender to make sure they give you income credit on the home from the rent (usually 75% of gross); your required down will go up 5% on the 5th - 10th mortgage (ie: 20% to 25% on SFR); and you will need to keep extra reserves. 

in my opinion, I would give her a dollar amount and tell her whatever place she wants is her business. if she wants to kick in an extra $20, her business. also suggest she try to get compensation from renters insurance, and you can supplement any difference, up to a certain amount if you feel inclined.

Then again, we could just have the funds to pay it off at that point in 15/20 years and we could have paid the extra interest for no reason. 

Current landlord is using the 2 car garage for his own storage and neither tenant has access to it - thinking that could be a source of extra revenue either offering to other tenant for increased rent or renting the space out for storage.Currently in negotiations!

On the high end of your estimation, your $350k in equity is earning you $3600 a year, or about 1% Return.

So should I cough up that cash for the piece of having a solid lease from an attorney or can I save that hard earned money and just use the best one I find online?

Some commercial policies may not even offer some of the extras I just mentioned.

If you are just looking for a passive way to park some money while earning a hefty return and quadrupling your investment in 30 years go the turnkey route. 

Access to MLS data Ability to write your own offers Ability to earn commissions on your purchase Ability to save commission on your own properties that you sell .

Go to Vegas and make an extra $100k