@Roger Roth You’re absolutely correct.

Thanks for the reply.

@Connor Cushman - I believe you are thinking about this correctly.

We have each potential appilcant fill out a general application ( contact info, work history, previous landlords, number of teants, and number and type of pets).In the past I have gone through the applicants and based on what I think is correct for the home ( I don't want a family of 5 renting a 2 bedroom, 1 bathroom home ).  

Does it seem correct?

As far as changed locks - you're correct it's an alteration of the lease and we can probably end the tenants lease based on the breach but that's a separate issue from the unleased subtenant. 

@Aaron Klatt - Thanks for replying!

Thank  you all for reply,  I just feel not safe to draft it  myself ,so thought that it is better  to pay for  professional service 

@Tyler Weaver is correct, the Cincinnati REI ran by Joe Fairless has a good group of people from all over the Tri-State at various stages in investing that are great for making connections.

If your ARV is correct I suspect you will only be able to get 75% of that amount for the Refinance.