This is our boilerplate language:Insurance: Tenant should obtain a renters’ policy of insurance on their personal property.

It takes time and patience, but the long-term benefits are well worth it.I’ve personally gained invaluable knowledge, listings, and deals from friendships I’ve built over the years.The more people you engage with, the faster you’ll achieve your goals!

However, you can get loans that are based on the performance of the rental and not your personal income and debt.

But I don't know your personal situation and all the financial details. 

It's not a personal sale between you and your son, but rather a sale from one LLC to another.

I have a salt water hot tub at my personal home.

I would start close to where you live personally. 

The other PM can be a fix-mindset type of person where they are not willing to share anything unless you have a property and are willing to sign a PM agreement in the same conversation. 

My wife is a realtor and my sons are MLO's and we started a lending company last year :)We do STR's mostly personally with our own properties and self manage all of them.

So, things change a bit.If it is his personal home, there are more restrictions.For an investment property, if you take over his financing, read through the deed of trust (mortgage) and see how they handle transfer of ownership.