Good morning BP universe!

I think the agent is a little incompetent, it’s not a counter offer, it would be a disclosure, or a correction/clarification even if it had to be added to the language of the contract. 

No assignments of contract, no resale or mtg for 90 days after your closing for more than 120% of your purchase price, plus other typical REO language.

I made my first offer on a house I can barely afford as a primary resident (3bd, 1.5ba close to Tufts University), I am glad the owners went with another offer, I would of paid close to 2.5k a month in "rent" for a single room assuming I rented out the other rooms at a near optimal price.

This is a place where families still live close together, when you meet someone for the first time you will be asked where you went to school (and I am not talking University), and outsiders are not exactly trusted.

In that scenario your investment could be at risk if you aren't able to make it cashflow after paying for all expenses including property management.As a former US Marine, active real estate investor, licensed CA agent and property manager I'm able to speak your language and can help you avoid extremely costly mistakes. 

I heard it best said on one of the podcast, "Turn your car or bus into a mobile university!".

@Bradley Jordan My recommendation is that you ask the 2nd broker to write in specific language that covers your situation.

Should I have him add language to the promissory note that I am paid out first upon sale of the property?

We're close (biking/walking distance) to one of the University of Buffalo campuses, so I think we may be able to rent the home out if we decide to move to Rochester.