I am exercising the tremendous power of saying no to this post.

A hold harmless and indemnification clause in the lease would be one of the clauses your attorney will probably recommend.Another strategy used by dance, exercise, and similar schools is to purchase a Sports Accident policy. 

This is a good exercise in real estate fundamentals as well as you get to know how much things cost so you don't get ripped off.

Here's an exercise for you. 

Whether the EMD were delivered or not, they've inspected and decided to exercise the option to terminate the contract.

It sounds like you want to:1) Lease the cottage,2) Have an option contract on the entire property, and3) Use seller financing when you exercise the option (see https://www.biggerpockets.com/...)These are three distinct steps, but each of them is fairly straightforward and just requires you and the seller to agree to terms and sign a contract (1.

Once completed, exercise your option to buy it and then immediately put it on the market to sell.

If the terms of the sale as written in the contract are  defaulted, the seller may exercise his repossessory right6.

Let the results, good or bad, speak for themselves and teach.Don't Have a Scarcity MindsetKnow that when you invest your money, you are not limiting your income by exercising your savings.

Right now the house would not pass code in many respects, so it's nearly certain that some repairs would be deemed reasonable and reimbursable if the previous owner exercised his right of redemption.With that said, BRRRR is still on the table!