I put down 60 k worth of rehab plus a 12,500 safety net cash for a huge mess up during rehab and ARV is 416,000, the profits are in double digits based on my calculations approximately 35k including everything mentioned above.Also the experts out there do you feel I have enough of a safety net with these numbers? 

Since then courts have found that the same protection applies with respect to fire safety standards and rates charged property owners for property insurance coverage.

Their end of the agreement that is outlined in the document is that if they do not sign a lease by the specified move in date and essentially back out that the deposit is non-refundable.

However, I've started to look at it as more of a loan to myself, separating my personal account from the property, at least on paper.To do this, I essentially charged my property a standard monthly payment similar to a mortgage payment.

With a 3-unit, the owner would essentially live rent free, as the other 2 units would more than cover the cost of the property. 

Are there other essentials besides the standard stuff that I need to have on the lease?

So essentially you end up doing most of the work for a small slice of the referral fee on someone you handed off to another party.

Separately, if one spouse is granted sole use of the home under a divorce instrument (essentially divorce decrees, separation agreements), such spouse's use of the home is attributed to the other spouse to determine if the use requirement has been satisfied.

At the end of the loan, I get the property for free essentially.

So when it came time for the child to sell the property there would be a larger and in some cases a much larger tax bill.In addition Life Estate properties are sold essentially at a discount that is figured out by actuary tables based on the sellers age and gender.