This requires that 75% of the rents cover the full mortgage payment. 

One recommendation is to make sure he approved everything before you cover it up.

I know when someone receives a traditional loan from a financial institution they typically are required to purchase title insurance to protect the lender.  

Is there a covered patio next to the house?

I'm hoping the summer which is the slow season will still cover my PITI 

The note from the first seller is only $88,600 so you have more than enough equity remaining to place it in second position which leaves $61,400 in equity on the new property or about 4%.The first seller continues to receive payments and has sufficient collateral to cover the note. 

I lived in one unit and AirBnB the other in the summers (which completely covers the mortgage).

The higher your credit score, the better interest rate that you'll typically be able to negotiate.

They're not currently on month to month tenancy as they're still covered by their year lease until Feb 29 so does this need to be presented once month to month starts?

Our 30 day guests of 2 adults just moved out and the beds have all been pissed on, a box spring has a nasty white film spilled on it, everything has a smokey film on it, sofa has huge stain that they tried to cover up but no success and the best part….