For extra formality, put it on a nice document with your letterhead.Re: Non-Binding Letter of Intent to Purchase Real Property Located at [Property Address]Dear [Recipient's Name]:This non-binding Letter of Intent ("LOI") is submitted by [Your Name] (the "Buyer") to [Recipient's Name] (the "Seller") with the intention of setting forth certain preliminary terms and conditions for the proposed acquisition of the real property located at [Property Address], inclusive of all improvements, appurtenances, and fixtures thereon (the "Property").Purchase PriceThe Buyer hereby proposes to purchase the Property for a total consideration of $[Amount] (the "Purchase Price"), which shall be subject to adjustment based on the results of the due diligence investigations and final negotiations.Earnest Money DepositContingent upon the execution of a definitive Purchase and Sale Agreement (the "PSA"), the Buyer shall deposit earnest money in the amount of $[Amount] (the "Earnest Money") into an escrow account designated by the mutual agreement of the parties.

The hardest part is just being disciplined enough to send letters out and follow up.

3) Once Trump starts running the presidency from prison and there is nobody minding the store in the White House, if my buyers are caught partying in the Lincoln Bedroom, will they   3.a) Be arrested and charged with burglary?   

If you don't have positive CF, then the negative CF part is also cash contributed by the REI, which adds to the cost.The main goal of the CF, is to recover your cost (the DP). 

You can learn more here:  IRA LLCYou are a disqualified party to your retirement account so you cannot transfer any assets you personally own or a company of yours owns into your retirement account.  

The whole transaction works better when property is commercial or investment and both parties are investors.  

How does one anlayze the store front part? I

This deal highlights our ability to identify profitable opportunities and execute effective whole-tailing strategies, ensuring a swift and profitable transaction for all parties involved.

2) You may want to get a quote from Hemlane (insurance broker) to see what the insurance is on the house as they should be able to give you an exact quote as an investment property, 3) I would also run your numbers with some property management (6-10%) included in case you eventually hire 3rd party property management.

The deal demonstrated the effectiveness of our innovative strategies and strong partnerships, resulting in a successful venture for all parties involved.