You never want to pay a security deposit without one because the lease is your contract with the landlord and gives you assurances. 

The property manager most assuredly DOES work for you. 

If it is occupied, we would want some assurance that they might qualify before we disrupt the current tenant.We also phone all listed prior landlords. 

The long-short of it is, you need to have your agent be on top of hit and get those extensions signed by all parties to be within compliance and make sure that the agent is tracking the lender to confirm they are doing the right work on the loan to create a smooth transaction.

Actually, I can all but assure they will change, several times, because it's a new segment, in terms of finance and governance.

A GC add's value by, being the "manager" on projects (usually larger or more complex ones) where multiple trades are involved, assuring Quality and scope of work (hopefully). 

Sort of weird especially since your website says you were previously at PriceWaterHouseCoopers... which is essentially an assurance services and public accounting factory.

The Owner and the tenant or lessee shall be jointly and severallyliable at all times for compliance by the tenant, lessee or other Occupants of the Lot with theGoverning Documents during the tenant’s or lessee’s occupancy and use of the Lot.Or does this California Law (AB) 3182 Apply?

They assured me they would handle 100% of the renovation and 10% of the Downpayment as long as we could close really fast.

Goals are compliance with HUD inspection requirements, tenant satisfaction, safety and enhanced property value.