I think so long as you can provide a good product and give buyers confidence the house will be professionally managed in their best interest, along with the home being a good long term investment, there will be buyers for it.  

So, give them 60 days notice and raise rent by $200 per month of they have to move out.... what every you want to do within the confides of the lease... so if there is no lease, I would give a lease YOU LIKE to the existing landlord, or specify the terms (6 months or 12 months, no dogs, charge for maintenance less than $50.. etc) so that the lease you get at the closing is the one that you want.So, it is not YOUR responsibility to bang on the door to get them to sign a lease, it is the current owners... it also sounds like you should use a lawyer in this transaction to make sure the paperwork is done correctly.

They instilled confidence that my systems when up and running should be functioning properly.

you can do the worst pipe first,,,gain experience and confidence,,,then keep on till the last of them is done.Bet they have that laundry drain tied into main stack someplace. 

My suggestion is to pick standards that you are comfortable with so that you can confidently accept applications from anyone who meets them.Hope this helps!

Great to have a site like this to help new investors feel a lot more confident.

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I dont think I have the confidence to try these forms on my own.

As Paul mentioned, participating in the local REIA is a great way to network, learn, and build confidence in your investing. 

I personally have looked at many places in some neighborhoods but have never felt comfortable enough or confident enough to invest there.