Knowledge is power, especially when it gives you different options.

Not knowing the configuration of the church the appraisal may be less than your purchase cost plus rehab costs.  

I wasn’t prepared to lose so much of my savings as carrying cost basically I paid for the tenants to live there for 3 months + my own living expenses in that time.

Your story about the seller financing deal is powerful—trust really can change everything.

The savings from either will be many times the cost of the lawyer.  

What are the costs for the value adds, the expected hold time, and the expected sale price? 

Ask them a lot of questions about their loan programs and the costs associated.2.

A friend of mine, Ryan, who invests heavily in Baltimore, realized his interest costs were eating into his cash flow.

Your property is fairly destruction proof, costs near nothing to maintain, yet you can charge above market rents.If your property is nicer (class B) where the carpet alone might be $6k or more to replace when the tenant spills hair dye everywhere, you won't be as happy as in the situation above.  

yes create the addendum but realize the tenant who has been paying could ask to be reimbursed for these costs as well as not accept the addendum.