I can stipulate that the keys will not be turned over until these first payments are received, but it could take up to 4 business days after signing the lease to actually receive the payment.

If you could find and place a tenant yourself, you could instead hire a general contractor (trusted and vetted) by paying him 10%, in this manner you would essentially be paying him for materials only - cutting out the middle man - sure he/she would collect their fee even on the month's that you don't need them but your stipulation would be that when you do need them, they be available 24/7 and make your work order priority (still cheaper and better than a property manager).

The purchase agreement stipulations are as is condition and not dependant on an appraisal.  

@Wesley Wong It's not unheard of to have this as a stipulation for showings.  

Do we need to hire a contractor or can I let him do it himself and stipulate in the contract that he will pay for any damage?

Can be true,  but there's are a lot of stipulating factor that will determine pricing, excluding your price of dirt and the wet and dry utilities cost to the structure.

You probably already have a phone panel connection jack thing in the basement or outside on side of house so usually if you have Comcast ask them to come out and wire for phone,  and sign up for minimum phone service so the install is free...You are not required to give more than one source for internet cable to your tenants so your not required to provide them the alternate of a dish unless your state landlord codes stipulate that.

Another stipulation is that they wanted to take the selling price from $82k to $86k and the buyer covers closing costs.

@Jeff Thompson I have not heard of that stipulation before so I would get a second opinion.

The contract does stipulate that both parties agree to a mediation if there is a dispute before taking legal actions.