About to do my first land contract (I'm the buyer) - Advice?

[Brandon Styles]

Hello BP,

I'm in the process of working on a deal for a 11 unit apartment building. I'll be doing a land contract with the seller. The actual negotiations will be happening this Saturday. Since this will be my first land contract (if the deal goes through), I've been doing a lot of research on the various aspect of the transaction for both the buyer and seller. What I've come to understand is there are 8 main components to a land contract:

Purchase Agreement

Land Contract

Land Contract Memorandum

Closing Statement

Disclosure Statement

Deed

ID Statement

Amortization Schedule

Is there anything else I should familiarize myself with? For those who have purchased property via land contract, is there anything advice you can give me or advice you wish you would have known on your first land contract deal?

Also, should I start looking in to commercial lenders now to see what I would need to do in order to have a smooth refinancing when the time comes? 

Thanks much BP community for checking out my post and commenting (well, if you comment :))