In terms of keeping both parties legally protected financially and legally?

This means that we wouldn’t actually be occupying the property until the lease (which we can’t legally end) is up.

Of course, speaking with a tax and legal advisor about all things listed above would be to your benefit and may help you decide on things as well. 

It is just as important as the rental home you purchased.This Industry has to do with legal issues, and many lawsuits, and if you don't have the best to protect your investment, then you won't be in this business very long.I know, it seems silly to think that by investing in a financial software program verse Excel will make any difference at all, but it truly does to the person you want to borrow money from.

You may want to take a close look at your insurance on the home as well as your legal entity holding title (LLC, etc.)

Learn what words are Legal to use in advertisements.

The intent of a Quiet Title action is Not to remove legitimate holders from title.....it is for errors, fraud, verifications of other legal processes (tax sales, etc.). 

@Freddy Hernandez Great questions. 1) Do you have to wait for a refi - Most banks will have a seasoning period of between 6 months to 12 months where you cannot refinance or only can refinance at the purchase price of the property.2) There are two limits on mortgages - Some banks will cut you off at 4, which is typically a Freddie/Fannie restriction.

However, even if it addresses it and says something along the lines of, “tenant is responsible for repair to HVAC under any circumstance,” does not mean that the language in the agreement is legal under PA law (just because something is in a contract - and agreed to in writing - does not always mean that it is legal if local laws may exist that specifically say that it is not legal.)

Do not rely on it for legal advice.