The previous owners turned in into a single family home.

I’d offer to sign the form if I was allowed to cross out everything between brokerage firm and during the terms.

I am the biggest fan of Bigger Pockets, and was so happy to attend BPcon in Cancun last year, and just signed up to attend BPcon in Las Vegas. 

Hey Zorya, I did not sign up with them.

However what happens when the tenant vacates and now the unit has to be turned over/takes a few months to find a new tenant and during that same period of time the sewer line goes and you get hit with that $15,000 cap ex expense in addition to the vacancy and turn over costs.

Do you have a price range and are you looking for turn-key properties or something along the lines of a "fixer upper"?

We signed a 3 year lease with your tenant for you.  

Granted this was on plots of land I didn't pay for, and that are already connected to the city's water and sewer, so there's a lot of savings there, but I'm hoping if it turns out to be this good of a deal I can still scoop up land and keep going

I've agreed to pay the reinstatement amount in exchange for them signing the deed over to me.

I recently signed up for BP and found the calculators on this site to be very helpful.