Maybe offering to help find a new place and pay the first months rent and security will ease the cousin out of your place and into another, so you can close on your preferred date.

This is the most secure method of investing for you right now, even if you are worried about a recession.

Get a security deposit no matter who it is that is renting.

If so, is it secured so that only tenants can use it?

After the fact, some people informed me about an UCC1 filing that I could've completed to secure my deal structuring.

Cashflow provides security, proof of concept, financial freedom, and the ability to keep your investment in a down turn, but wealth in multifamily is built by forced appriciation, and tax incentives.

I found the reason why and thanked then for being good tenants for the time they were there (all good things come to an end at some point) but I use the opportunity to present my gratitude which will pay off in the long run, I also plan to return their security deposit if the property is left in good condition.

Make sure to ask for security deposit+rent+last just to be safe.

What if at this time my wife becomes secures the loans? 

I have been looking for 2-4 unit properties for the same reason everyone is, but mainly for me is the security of multiple rent checks coming in.