This property seems to have huge potential, but also countless pitfalls.

I.E if one of you decide to back out you can have it set where they have to buy the other person out in some shape or form. there are countless ways to structure it and you just have to talk and come to an agreement.

There are countless posts on the topic.If you are asking about contracts to paper the agreement pending closing and you don't want to have original contracts drafted, you might consider TREC promulgated forms for simple transactions. 

For what he has down to countless investors and tenants, I hope he is never allowed to sell a single home anywhere on this planet.

I have listened to countless podcasts and read many posts and the subject of cash out refi to obtain capital to reinvest is prevalent.

There are countless times that someone has all the money they need and purchase a great property, in the right location, and in a short amount of time they lose it all.

I've worked with countless of people moving to the US with no social security # and no credit score, it is very common. 

@David Dey  While I would LOVE for you to be right, on the whole 5 year thing, as it would open up countless possibilities, I just can't agree. 

After reading countless posts and blogs courtesy of Bigger Pockets I decided it was time to join.  

I've read countless books and I'm ready to acquire my second income property.