Creditor name, date entered, amount, attorneys fees if any, interest... you would reach out to the creditor for a written payoff statement and release (once paid).

If you want to keep the name of the LLC hidden from the tenant you would need a property management LLC that you would sign as the agent of.

Just remember to keep the two documents (lease and option) separate;  one should not refer to the other.Option fee should be non-refundable, however if you want to credit the option fee towards their down payment WHEN THEY BUY, you could structure it that way.Personally, I would be very careful about how you go about 'crediting' $xx of monthly rent towards their down payment. 

My thoughts have been trying to figure out pitfalls of late fees, and how to bi-weekly could affect eviction if needed. 

The current mortgage is $1486 and it is being rented for $1600 with property management fee of 10% ($160).

You will want to decide what is most important: lower fees, quick processing time, proximity to you.

In some states the owner has the right to redeem, repay the amount sold for at auction plus some fees, for a certain amount of time After a tax auction.

. @ Al: With Zelle, can I charge late fees?

Also, I will respectfully disagree with a comment made above about HOA fees.

Full Price is the high bid plus $195.00 Transfer fee !"...