They could return to damage your property, harm or even kill someone.

If you think you will go FHA, Conventional, 203k, etc. and then Quit Claim the property, to a LLC, or a Land Trust you run the risk of the lender discovering a Title Transfer occurred and activating the "Acceleration Clause" or "Due on Sale Clause" that requires the loan to be paid in full, within 'x' number of days.

Your operating agreement in the LLC should show, among other things, 1)how profits will be allocated, 2) How much of the actual partnership each partner owns and 3) how  initial funding of the partnership will occur.

BE CAREFUL:  a change in the name can be a taxable event (treated just like a sale) AND invoke the Due On Sale clause.If the purchase has yet to close, then have dad put you on the title in the first place.Guess dad has his own reasons for not wanting to be on title, but I'll not ask.After COE with your name already on title, THEN do the Quitclaim and neither of the above exposures should occure.

Of course, the land contract sale could trigger the due on sale clause and both parties should be aware of that and have a strategy in place if it were to occur.

He hasn't been harmed by this misrepresentation, fortunately as it seems that normal wear and tear are all that occurred.Should he escrow the deposit with the court?  

The more people which inhabit a unit, the more damage which is likely to occur.

They are trying to avoid a liability loss here and though it may seem like they are asking a lot, the cost to repair those items will likely cost you less money, hassle and stress than if an injury were to occur.

It gives you the landlord the ability to evict a tenant if a drug conviction occurs while they're living in your property.Have a chat with your lawyer about these clauses when you have your lease drawn up.

All 4 units according to the agent are on month to month terms currently and have been staying in the units since the remodel occurred.