Do not say anything that might be Federally be looked as possible discretionary language. 

That said, just sign the PSA in your name and include language allowing the PSA to be assigned to an affiliated entity controlled by you.

If using Realtor(c) forms, don't hesitate to fill an entire blank Addendum page of added language to protect yourself.  

yes, I agree its poorly written and the X or Y language confused me for a sec.

I'm interested in hearing what language others are using in their lease agreement to require this. 

You can also use specific language in your lease/ taw agreement to refer to yourself as "landlord" or "Lessor" as well 

Your contract terms should include novation/assignment language to your anticipated LLC as the title holding entity, hence Scott's advice above - once the LOI is accepted but before the PSA is signed (although you may not actually form the LLC until later).

So in summary, there are options for you to pass some of the tax deductions to your partner however they must meet certain rules and you will need certain language or a signature to agree on said allocations/terms.

Lesson learned.I ran it by the agent and said I'd like some language protecting me in case the roof isn't fixed in a timely manner as it may prevent lender from giving the go ahead.

There is language and my ex wife's signature in the mortgage paper ,that my father insisted to be included , that she holds no rights to the property.