Is this even legal?

Purchasing in your name might be simpler and cheaper upfront, but you’d be personally liable for any legal issues.

This varies by lender as different lenders have different guidelines they underwrite to.

I went to my local credit union, Wells Fargo, and United Bank and each one turned me down after "checking with legal."  

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

- Legal and Regulatory Concerns: Are there any local laws or regulations in Fredericksburg, Virginia, that I should be aware of regarding pets in rental properties?

It will likely cost much less than you have to lose in this case to get 30 minutes of legal advice

As the legally required small print in the offering of financial products reads: "Past performance is no guarantee of future performance".

Is there legal recourse for me to now collect the required security deposit from the tenant even though he is in place (his lease does not expire until 7/2025), can i do a lease amendment requiring payment?

You might not want to buy more than one property with this company until you are many months to 1 year in to see how it really goes over time.No legal advice given.