For what it's worth Arnie I've been using a per day late fee right here in Milwaukee for a while, and got the language from another local landlord.

I understand the language I've done some case studies and I've looked at properties on LoopNet and I still believe there is more I need to know about.

Many attorneys will give you few minutes free, free consultation.And, you need to understand say, options, pretty well so that you can talk to the attorney without using guru language.

I can't see people's body language on the phone or in emails.

Craigslist uses HTML computer language, so if you learn a little bit of it, it can really make your ad look nicer.

Since the language for the 1031 exchange specifies that you must exchange "Like" properties-business property for business property and rental property for rental property and farm property for farm property-are you assuming that a personal residence held to increase in value has now converted to a rental, but not a business property or other property?

You will learn RE here.To learn about other asset classes you must go where that language is spoken.

Yes, it was discussed beforehand that he would come back in the event of any issues, but I didnt know if it was something that I should get in writing, and, if so, if there was any specific language that I should use....

There may seem like a lot of superfluous language in there, but there are reasons for it.

Assuming the "move on and learn" goes without saying, here's my two cents:I have a "holding deposit" form which takes money and calls it a "holding deposit" and also has clear language on what that deposit will become once lease is signed. (1st month's rent).