You can tap into the extensive networks of property managers, attorneys, and insurance agents to get them.

If 5 years hit and I still had the property, I'm fairly confident I could negotiate an extension with them.

That scenario is almost always a lease extension from an initial 3-month lease).

I have done extensive research on the area on the population, schools, hospitals, jobs, and the age group I'm targeting, and I've seen all the streets and the whole town as much possible without actually being there on google street view but i will be driving over there this weekend to get a real vibe of the place probably talk to locals.I pray that another major 2008 does NOT happen while I'm incurring on my first investment property lol..

However, recently a good friend of mine from church (who happens to have an extensive experience in RE) offered me to partner up to help me start and without me having to put any money, just asked me to contribute to him by finding a low cost deal, help with the process and he promised me to split profits equally if either selling or holding.

What are the Term and Extension provisions of your PMA? 

Starting on your own (despite your extensive experience with your family rentals) can be an overwhelming task. 

Since this deal is being bought for a low cost, many hard money lenders will pass on it unless it is an extensive rehab with a significant value add. 

All my taxes on all entities were all filed with extension. 

I understand how much notice I need to give them yet I did not know what document I need to use to make this change reflected in the lease since this is not a lease extension.