I'm Sharon Gutowski, a possible future real estate investor from St.

This can have longer term DTI implications that impact future mortgages, potentially. - Have the funds lent to you, secured by your primary residence as a private mortgage, and it's no longer a gift.

See link above,  it may help to figure out future taxes.You have to be careful how far out you go with comps in Cleveland, make sure your comps are coming from a small radius, I would go out a half mile - a mile max.  

My brother in DC is wanting to partner with us in a cheaper market in the future, but already owns a few DC rentals.

Either way you’ll probably meet great people in the industry and make friends with amazing agents who will help you in the future.

(Especially if appreciation and rents seem maxed out for the foreseeable future).

In the future, I will definitely request all documents prior to a PSA as you suggested.

I might possibly have a project or two in the cities in the near future. 

I think you should lock in a rate since they are likely going to be much higher in the future.

looks like you no longer have this issue.But in the future if it happens again what's been mentioned so far - screen the new tenant, fill out application form, collect app fee, and have all existing tenant sign.IN ADDITION, make sure the existing tenants and new tenant understand, and include into the addendum if necessary, that all claims, damages and deposits are shared by all tenants from this day forward.That means if you see a broken window and need to charge them for repairs tenant C can't say oh it's broken before I moved in.Or if tenant B moves out and six months later you charge a deduction in the security deposit on a hole in the wall behind the couch he says the hole wasn't there when he moved out so it's not coming out of his deposit.At the end of the lease when you refund the deposit it will be a check to "A B and C" jointly regardless of who might be there or not at the end of the lease.