His point is the complexity will provide protection. 

Some protective gear and some bleach with water and a good air purifier you'll be good.

The decision to rent to her has been decided, we just want to protect all interests.

@Robert Cummings, I've recently switched over to Buildium to manage all of my books for my rental properties (as well as the screening/management/rent collection etc).  

I would have contracts in place to protect the interests of all parties so everyone is safe, secure and profitable.

In regards to your concerns, you should put together an MOU regarding the terms of your agreement with performance clauses protecting both parties, and eventually lead to a JV agreement.There are several other methods to protect yourself as well as the owner/seller, however, too lengthy to write about.Don't be too greedy, otherwise it will limit your relationships and longevity. 

It also protects the asset from any further encumbrances and prohibits wouldbe judgement creditors, including the IRS, from attaching or placing liens against the property.

They said it would protect you from any lawsuits or liability personally

BUt, knowing where they are doesn't help with collectibility any if they have no assets or credit to protect.  

And thank you for serving and protecting us all.