Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Is there a process to purchase from wholesalers with contingencies so that if I find out that the property needs more in repairs I can renegotiate or back out and get my earnest deposit back?

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Have your attorney draft a letter to them stating any damage will be deducted from their security deposit and if there are cost overruns, you have authorized your attorney to file suit against them.

I am not too familiar with auction sites -- don't most of them require a non-refundable deposit?  

Also, security deposits.

So your job is important, but your ability to pay is going to be based on your personal bank statement deposits..

Of the business I get from bigger pockets, a significant amount is from people that just got burned and lost their $20,000 earnest money deposit after failing to close on a house.

When you closed on the sale, the paperwork belonged to you and should have been handed over with the keys, security deposits, etc.

It included a clause that said my security deposit from the lease would be applied towards the purchase price, as would XX% of every month's rent payment.