If you read my bio, you will learn quickly where I am at in my journey to the unforeseen future.

Unforeseen issues might lead to long-term costs, so it's crucial to factor this into your decision.Consider renegotiating with the seller to see if they could contribute to the water bill cost.

I don't know what your personal financial situation is, but I would be a bit cautious so that you have the financial reserves to weather any unforeseen circumstances that come your way, if you leverage everything you have to the max I just worry about things that could come up. 

If an unforeseen issue arises that is not their fault, you pay for it.  

Obviously, in the case of the domes, we would write up a contract and I would have a lawyer look it over, but as of now I have no experience at all in this kind of thing and so I'm not sure if the law would cover me, or to what extent, if something unforeseen were to happen, like if we were to somehow have a falling out.

Here are some considerations for each option:Option 1: Refinance immediately after rehab and renting it out to a tenantPros:Higher LTV (up to 80% of purchase price plus rehab costs) could potentially provide you with more cash to invest in other opportunities.You can lock in current interest rates, which might be lower than what they could be in the future.Cons:It might be more challenging to find a tenant quickly, and you'll need to consider potential vacancy periods.If the property doesn't appraise as expected or if there are unforeseen issues, it could affect your refinancing terms.Option 2: Wait for the 6-month seasoning period and get up to 75% LTV of the ARVPros:Waiting for the seasoning period allows you to potentially access a higher LTV based on the after-repair value, which could result in more favorable financing terms.You'll have more time to ensure the property is in optimal condition and potentially command higher rents.Cons:You might miss out on current interest rates if they do increase significantly.There's a waiting period, during which you won't be able to access the potential refinancing benefits.Ultimately, you'll need to weigh these pros and cons based on your individual circumstances and risk tolerance.

There was unforeseen mold during inspection so it fell through, but I won the deal none the less.

Not really.Sometimes unforeseen things come up.

What mechanisms or agreements can we put in place to protect my interests in the event of unforeseen circumstances or changes in the partnership dynamics?

Design, permits, and construction can all be time-consuming, and unforeseen costs can arise.