@Jimmy Hilaire Master lease options are always something to consider for multi-family, however, I have never been one to suggest paying top dollar in a market that is starting to slow down significantly.   

If yes, think about terminating the existing lease, with written acceptance of the 'agreement of termination of lease', to be signed and notarized, by both father and daughter.Then, create a new lease with only the father on it.  

Their clean criminal history is a plus.The big thing is to treat the co-signer like a main applicant: thoroughly vet his background (credit, income assets) make sure the lease states all signers are on the hook together and (meaning you can chase any one of them for all the rent/damages), and get his name on the dotted line, all official-like.

I intend to lease it to an assisted living center.

Oh, and doesn't have a 6 month lease requirement in their contract for a loan on an STR!!!!   

Never give them free rent up front-do that at the end of the lease.

I have a tenant on a month to month lease. 

I charge the same for MTM as a 2 year lease.

@Jeremy Taggart I actually use the above lease.  

I purchased with conventional and the lender doesn’t allow me to transfer to my LLC.Is there a way for me to lease the property to my business ?