If you desire you could rent it M2M with a two month notice required by either party to terminate.

Some will have it in the legal stuffs that you either have to pay them for the rest of the agreed management term, or will charge a fee for "cancelling".

--So long as it is legal, an above-standard security deposit.

As an out of state investor this has been helpful to get some insights from 3rd party sources. 

Hopefully my comments help and I don’t come across as a party pooper.

My question is about the loan or mortgage - when people go into an agreement like this (assume they are splitting all costs equally), do both people obtain a mortgage for 50% of the property, or does one person get the loan in their name for the full amount and then just receives payment from the other party for all expenses, etc?

Make sure you get everything in writing and have a legal professional review the contract.

I don't think this tenant can claim "service dog" and get away with it legally. 

Looking for recommendation for legal and accountant advisement for a lot we are looking to acquire and develop in Laconia/Meredith area. 

*none of this post is intended to be legal or professional advice and does not create an attorney-client or cpa-client relationship.