Than over-all operational, what I call "WTF" contingency funds, this would be for black-swan events like say a world wide pandemic that affects operations.

for some this is a black and white issue. 

Even though it is family, you still want to have everything black-and-white.Best of luck!

Janet Cisaneros at Black Hat Realestate Agency.

Nice looking house, congratulations @Kyle Black ! 

WE all worry about the black swan event well we had one with Covid who would have predicted with that event that real estate would turn from robust to white hot ?? 

I am looking to get in contact with anyone who is actively or looking in to flipping homes in the Rapid City/Black Hills area.

The OP was nice enough to include his contract and it’s written in black and white…“If Seller fails to repair the damage or chooses not to repair the damage, Seller and Buyer shall be entitled to either: (i) deduct a mutually agreed cost of repair from the purchase price of the property; or (ii) terminate the Contract in which event any and all deposits previously delivered to Escrowee shall be returned to Buyer without offset.”If seller doesn’t fix either the seller or the buyer can cancel the contract.  

For example, you buy the place and the tenant could claim the Seller allowed them to paint the walls black or that their security deposit was twice what the Seller claimed.

I used to be super active in a poker forum (Full Tilt) before “Black Friday” (if you don’t know what that is and wanna learn more DM me lol)Cheers!