But then if the end buyer pays off the seller's mortgage at closing, then why does it seem that you would need to be extra explicit that the end buyer is assuming the terms of the seller's mortgage if they are only paying off what's left right then and there?

Where can I get one or have one drafted that won't cost an arm and a leg. 

Make sure it explicitly explains the process for termination if you are unhappy with their services, but especially if they violate the terms of your agreement.3.

As a starting point I suggest being within arms reach of your first project if only for the education and experience of being involved all the way through.

Nobody against the armed forces, I wouldn’t want my 4 year old walking by intoxicated Ivy League college kids either.

And, to be honest, I think there's benefit to being at arms-length with tenants. 

They are also typically shorter termed - like 5/1 and 7/1 ARMs.

Our local credit union offers a rebate interest mortgage, currently 5.375% fixed rate, and 4.5% ARM.

I don't have an alternative to suggest, but you're probably better off with any boilerplate contract for purchase you can find out there that has some sort of explicit assignment clause.2) Check with the California Association of Realtors legal hotline.

Some balloon and some just become ARMs .