Jon K already alluded to some of this, but I'm spelling it out a little differently.Sorry to get ugly here, but having been sued by tenants who got hurt (not in that way, thank goodness) I'm a little leary.That's what years and years of being a landlord will do to you.

The IPad does have spell correction function but the @mention feature does not work, hopefully that will change soon as I use the IPad a lot to post while in the field.

If they don't show at closing or refuse to sign, and they're still living there (inspect shortly before closing), then you refuse to sign.Isn't some of this spelled out in your contract?

So I’m looking to learn, while I clean up my credit and save up a bit of cash.I have no experience in RE, but I can spell it.

Usually the numbers or condition of the property spell it out.If landlord is paying some utility I go 60% cost off current gross income regardless of the sellers numbers.

First thing is to get an ironclad partnership agreement that will spell out exactly what you and your partner's roles will be, who will contribute what, how profits will be split.....answer every imaginable question now because doing so is far easier than later on.

@Cory BenhardtIf your HOA has specific requirements for capital reserves, it should be spelled out in your contract. 

So you'll want management details spelled out very clearly.

The agreement should spell out a bunch of other contingencies (the morbid example is what if one of you passes away...). 

Real property actions;  adverse possession under color of title(2) For the purpose of this section, property is deemed possessed in any of the following cases:(b) When it has been protected by a substantial enclosure. ...There is another Florida Statute which provides for Adverse Possession if you've paid taxes on another's parcel and used it. http://www.leg.state.fl.us/sta...Nolo.com provides the following info, in part; https://www.nolo.com/legal-enc...Florida’s Requirements for Adverse PossessionThere is no single statute in Florida that spells out the elements that a trespasser must establish to prove adverse possession.