It was honestly way more work dealing with the paperwork than it was for the actual construction.

They gave me paperwork to give to my accountant and it was done.

Bottom line is banks protect you as a borrower and ensure through title that the paperwork is legal and correct. 

What kind paperwork is need it?

If it were me, I wouldn’t want my tenants to have a kitten or puppy, so I would word things so that they can have a pet at least 1 year old and require some vet paperwork regarding the pets being fixed.

This option cannot be issued until a 5-day notice has been issued during the lease period.Wisconsin State Statute 704.17 is one you will want to review, along with your rental agreement, prior to issuing any type of paperwork to the tenant. 

I currently have a verbal agreement on a 3 unit and intend to sign paperwork this week.

Low-down payment conventional mortgages are preferable to FHA mortgages (assuming you qualify), @Mike Rodriguez, because there is less paperwork, no up-front mortgage insurance (1.75%), and monthly mortgage insurance drops once you hit 78-80% LTV.

Once you have gotten past the initial overwhelming paperwork, the monthly payments are like clockwork, and there are good advantages to staying with the program. 

The renewal paperwork, on the other hand, is just one sheet of paper where me and the tenant are agreeing to renew for another term.This IMO is a totally unjustified inflated fee from management who just decided to dip its hand into the pocket of others because it is in a position to do so.