You'll end up with pissed off tenants and future expenses. 

My thinking is that as long as the yard looks like a yard and can function as a yard (ie. junk-free, has grass & dirt), then it doesn't make much sense to invest heavily into landscaping like re-sodding or other projects.

Where can I find basic template to write a mortgage for family.   

I am meeting with a RE lawyer next week to get the paperwork going.

I do have an early termination fee, but that may not actually cover the time from lease signing until move in since the lease says it starts in some future date...again that's why the fee agreement is included with every lease. 

The future upgrades will be to deal with the new EEE reg coming down that will force me to redo a set of stairs and two landing that are both outside. 

I'm lucky enough that my parents are allowing me to live at home for free for at least the foreseeable future so I want to take advantage of that.

Make sure to write down your policy incase you find yourself in a fair-housing issue.

Simply write down your qualifications that you use to screen your tenants and you can adjust them over time, but you need to start with something. 

If you ever want to connect and discuss some of your financing options for your future investments, please let me know.