Have discloses in writing that outline the risks in detail and advise the seller to seek both legal and tax advice. 

First of all, you should be getting an estoppel certificate, signed by seller and tenant, that outlines current rent, current deposit (even if its $0), and any current outstanding oral agreements.

Here I simply outline my expectations for the tenant at move out. 

That being said I would start eviction proceedings against your residents immediately as outlined by your local statutes.I am not an attorney and do not play one on television.

I'm definitely using your letter outline to officially tell them about the transfer of ownership. 

I know you have to give your tenant enough notice per what's outlined in the lease but wanted to get feedback from the community of landlords on how often the check their investment?

Outline how you applied his/her last payment and how you calculate the short rent amount.

Landlord reserves the right to revoke consent given in this agreement via 7-day notice (as outlined in Paragraph 12 of the Lease Agreement).

Just tell him exactly what you outlined in this post.

check out 121 c 1-4  that kinda outlines that.