Congrats on getting started.

Going through my real estate journey I have learned a lot, I am 24, a veteran and a graduate from Temple University,I started with aspirations of investing on a property and making a quick flip.My problem lied with fear of failing, my capital and my savings.I decided I wanted to learn the real estate market and know the ins and outs before I would make a bold choice on buying my first real estate home.

I borrowed $110K from a private lender for the purchase and self funded the repair of the offices. 3 months later, I rented 6,000 sq.ft. of office space to a corporation for $21,000/month + utilities for 5 years with another 5 year option.

The owner was motivated due to personal circumstances and wanted to avoid the hassle of listing the property publicly.To negotiate the deal, I started by understanding the seller’s priorities.

Get a stable income, job and start with going the simple route.

The document is pretty explicit with contingencies should anything go sideways along the way though so this helped a lot to keep everyone on task. we've built rapport at this point since we've been in constant communication from when we started but in the beginning, it was a lot of trust in the document.

I’m eager to learn and make sure I’m doing things the right way from the start!

Sounds like a challenging situation all around I would  not cancel the deal, but if he dies and it goes to the estate and probate you may want to start looking for something else just in case...Best of luck. ...

My hope is they will be removed from the property prior to 2/15 but, I'm worried if paperwork was done incorrectly (I don't believe it was) and I need to start the process over again, I can just fall back on the 30 day notice.

Quote from @Eamon Conheady: I was purchasing a multi family through an IRA LLC and was utilizing debt to finance it, requiring a non-recourse loan.