One could easily argue the last example is the most important decision one ought to consider and even if an "accident" popped out, what about subsequent "accidents".If a tenant is not willing or smart enough to consider these sorts of things, most landlords take a pass, because most landlords want tenants to be considerate of property during their stay, and if they can't even take care of themselves, why on Earth would they believe they are going to take care of someone else's property?

Definitely have a lawyer draw up the paperwork to ensure all your bases are covered. 

Questions specifically on agreements contracts and if there are templates or do list have an attorney draw these up?

You make an owner's draw to move the funds from the LLC bank account to your bank account. 

The draw back to these loans is that they are more paperwork heavy than the other "portfolio" types of loans....but if you have ever received a loan on your primary home, it's likely that you will go through the same type of paperwork here with conventional lending.

Even with strong established relationships and successes, LTVs have gotten lower.Additionally, as Cameron alludes to, there are still bills to pay before draws come, reserves that need to be kept, etc, so you need capital ready and available in the form of cash.

All new duct work ran $1800 hi efficiency HVAC equipment $6000 installed & that avoided the need to repair & line the old chimney, that was subsequently removed to the attic floor.

When you take out a loan draw within a fix and flip LOC, it uses up part of your exposure limit.

So, you need to have cash on hand (or some other credit line) to cover the reno costs before you can make a draw with them to get cash for the reno.

Secondly, Elk Grove has a sought after school district that draws a lot of families to the area.