Hi,I actually use the same lease on my condo rental that I use on my fourplex units and just fill in a few blanks differently (like what the rent covers, for example).The key difference for me is that I have an addendum of condo association rules and policies that is incorporated by reference in the lease. 

Prior to that, I have been looking for a property for over 6 months at that point.

The applicants are a couple, not married yet, and he is moving into town about a month prior to her.

So if they want to move in prior to the 1st, they owe me that month PLUS the days remaining in the current month.

No one, ever, in 10 years of being in the industry, has ever called me and told me they wanted to buy and sell, without myself contacting them at least once prior.

Prior to that Lost Note Affidavits were only enforceable by the party who lost the note. 

Do I need to reconsider my loan selection and put it under my LLC prior to closing?

His best bet would probably be to become an investor himself, since he has a pool of people who could become renters if something happened to the prior.

For me personally I have landlord insurance policies for my dwelling in place and the rentals under my name.

Well maybe thats a little exagerated but it would certainly be higher than the 700 to 1000 that is average in most of the rental markets in the US>  ( west coast and high priced cities excluded)Rents in Oregon for instance were flat for a good 10 years prior to about 2012