The condo can easily bring in the rental income and I can sign 6 month management leases with the property manager.

So I signed Lease Option with this homeowner, but she still owes two payments for the burglar alarm company.

If you consider that tenants are often in 1 year leases, it is often the case that rents cannot be increased as quickly as the appreciation.

We are all on the lease. 

Hello Chris,  The main purpose of obtaining a real estate license is to that you can lawfully recieve a commission when buying, selling or leasing real property for clients. 

My option, of course not knowing your state laws, would be to simply say know and allow the tenant out of the lease so that you can find a qualified tenant.If you are not legally obligated to accept welfare tenants get rid of them.

I would request the current seller to obtain a written lease with the tenants as part of the sale based on the terms they say are in force. 

A local real estate company is renting it now and will sign a  2 to 3 year lease when (or if) I buy the house.

Just make sure you collect the lease agreements and/or decide what you're going to do with them.

The rental amount is determined by either a signed lease, or rental value as determined by an appraiser.