You want to make sure you do every thing to the T.If the home is on a lease no formal notice is required (unless it says so on the lease).

If it were me I'd keep it a very formal agreement that is all spelled out in the lease about what is acceptable and what isn't.

Any required formal documents to create for the contract? 

Rent doesn't matter if the monthly expenses are greater.I would be very leary about doing your first deal without a formal inspection of some kind.

For me, I think stating goals publicly or in writing, formalizes them and opens up external accountability to meeting said goals.

Because of ethics concerns, most lawyers that act as title insurance agents act with the assumption that they owe a fiduciary duty to the buyer even if they don't formally represent the buyer.

You need a formal contract and a one page Assignment Agreement.

Go through the formal process (through a title co.) and get the house back in my personal name, get the refi, then Quit Claim Deed to the LLC?

Well known areas are Indianapolis, KC, Memphis, Cleveland, Cincinnati, countless more.I just view the primary as another property to be judiciously managed.David

I gave her a formal offer in writing (in person) of $176.5k with 10k down and 5% interest.