That's all you need and you actually do have more control than an invalid instrument misapplied by definition, providing covenants that are opposed to the type of agreement that require specific obligations. :).

An LLC with one $50K property purchased for cash has more exposure than an LLC with 50 properties all leveraged at 100%.- As Duncan said, if you manage the properties (or rehab the properties) personally, you may expose your personal assets and other business interests in the case of a lawsuit.

@Tyrus Shivers was nice enought to run comps for me since there have not been any dups and tris that have moved around here lately, and I figured out that for units less than 5 a comp approach- rather than an income one - was needed for any lender financing if it ended up going that route.  

If that is a concern then of course you need only sell to an entity rather than an individual. 

option 1:  purchase a single family HUD home and rent it out when I get in the military (though I think I have to live there for at least 36 months and not even sure if I would be allowed to rent it out...)option 2: duplex idea with an FHA loan but then I did the Zillow mortgage calculator and I can only afford $55, 367 which means "ghetto" (sorry don't mean to offend anyone with this word) housing in a less than an appealing neighborhood (I live outside of Atlanta and that's where many multi-family homes exist).  

If you take more than an even distribution, you pay taxes on the withdrawals, but you can return at any time to non-taxed distributions.

The full bath has a window other 1/2 bath (toilet and wash basin ) very small maybe 5x3 and no window... neither bath has ever had an exhaust fan and the house IS NOT having extensive remodleing...

And I agree with Will Barnard, you should have the property sold in less than an year, and if there is a penalty needed, having the note specify an increase in rate, and/or an extension fee, is appropriate.If you have a real estate attorney you are comfortable with, you could start there, or if not, a title company would be where you started to arrange all of this.

There is also the option of offering cash for keys, would definitely be cheaper than an attorney and gives her a couple hundred bucks to help her move her and her things out.

However, since you are still living in the property, I'd be nervous that these expenses will be seen as some sort of personal gain, rather than an expense for your rental business, so just to be safe, I'd defer all expenses until the tenant has moved in.