If we can lock in non recourse debt with a fixed 10 year term I would sleep much better at night- I hope this makes sense. 

I mean its 10:15 now and I still have so much to get thru today before I go to sleep. 

Or if it's nice enough, landlording shouldn't take up a ton of time either, but PMs don't cost much and they alleviate any 3am plumbing calls that might take away from what little sleep you may be getting during med school.

I am a little surprised that it seems like I haven’t done sufficient analysis.

Just transfer at closing and you won't lose sleep.

As long as you've accumulated sufficient equity, and your DTI ratio is fine with your Lender, using HELOCs as deposits (and starting new mortgages for the rest) is probably the best/easiest way to keep buying real estate - using NONE of your own money!

(Sorry for the additional questions, but I know I would have these questions in my sleep.)

VanEd was sufficient.

That would leave you with roughly 80k to pull out and re-invest into something else, which should be more than sufficient.

Additionally they are his employees.You do not want these to be your tenants and any advice you receive suggesting you could try them out will only lead to you non renewing at some point after you start losing money and sleep so you are best to start right.Do not, I repeat, do not allow the present owner to sign a binding lease with them.