We haven't signed a new lease agreement since the property was just handed over to me, but she's already 2 1/2 weeks late on the rent.

Our lease does state that if they fail to notify us of things needing maintenance and repair within a prompt manner they can be held financially responsible and We do require they carry renters insurance so I am wondering if it is something renters insurance would cover? 

How do you do your 𝖤𝗇𝖽 of lease when you have someone lined up to move in without vacancy?

By the same token, If the hunting season is short and the winter is long in the Yampa Valley does that mean that a property you put into Cabellas Preferred hunting lease program isn't being held for investment when the Elk are in Utah and snow is on the ground - nope, that's still being held for productive use awaiting the next season.It's the same as any agricultural land. 

It would be more appropriate to lease the land to someone running cattle and paying your IRA rent.So, this transaction likely does not fit well with an IRA.Generally speaking, when the thought process is "I would like to do 'X'. 

Question I have is that I just closed on his duplex, and one of the tenants is not renewing her lease and is suppose to vacate at the end of this month.

Dentist is willing to sign a 10 yr lease and is credit worthy. 

It my understanding that he has never had a formal lease so eveyone is month to month.

You should get copies of the lease prior to closing for your review.   

If you had a year lease and ran into issues that were outside of our lease agreement you simply couldn't kick them out.