Account Closed No it doesn't and I've never seen it before on previous contracts it was more of curiosity after hearing a story of a seller having an issue.

Have you estimated capital expenditures and what are you accruing each month for such expenditures?

Out of curiosity, what do the cap rates look like on the rentals your buying.

There are many other factors with rental property you may want to consider such as depreciation, accrued equity, and appreciation (I don't count on appreciation) These are more future benefits and not as instant as month to month income.

I don't know the area, but curiosity got the best of me and with a bit of research it looks like there may be a few short term rentals there:https://www.airbnb.com/s/Tool--TX/homesMaybe book one of them for the weekend to get a feel for the business model from the short term tenant's POV and take notes on how it is set up and run.

I agree with Percy N, you probably need more than your estimated 4K and don't forget all of the holding  costs that can add up quickly such as water, electric and sewer bills, taxes accruing, insurance, ect.  

Just out of curiosity, have you used other CPAs in the past? 

Go make money and undertake protective measures that are proportional to the amount of wealth you accrue.  

Just out of curiosity, I looked up some properties that are for sell and found a duplex for $180k. 

Out of curiosity, what are you planning to do with an attorney?