@Alan Miegel While I'm not familiar with the rental market of the Bay Area, you have outlined what is considered a BRRRR strategy. 

The exit strategy should have been outlined at the onset of the project so everyone would be prepared for a plan B or plan C.

Is there a template or an outline for the aforementioned process?

The terms and responsibilities are outlined very specifically in a lease agreement.My main question to the BP family is what we should look out for over the course of such a long closing period.

Again, that part might not be important to you, but those details matter to me.That said, having everything outlined clearly for the applicants is a great step to eliminate any confusion, so I like what you've done with that. 

Problems I never expected outlined below.With that said, I always keep a healthy cushion available. on it. 

Do you outline terms of profit as a percentage of sale price?

People like him will not waste time with such things and you need to be on point with intent professionalism and a detailed outlined purposal with proof of funds to get him to bite .

PS, I will outline some of my ideas/plans in the getting started section and love to hear your comments.Have a great one!

It’s just a general outline of my plans here.