Then stipulate that the EMD is due at the end of the inspection period.

Let's say the blogger form Colorado is correct - he stipulates: * The investor MUST make a FULL DISCLOSURE of the intent to make a profit off of the immediate re-selling of the home – to both the BANK and to the SELLER

What's the stipulation on this?

I will even do a month to month stipulating it will roll over to a long term relationship.

No, @Chad Osborne, I believe they stipulated that it could only be transferred in sale to a family member. 

Not only will you need a letter of authorization from the seller, but I also recommend adding a stipulation to the purchase and sale agreement that he will provide that authorization in perpetuity. 

If you intend to assign the contract, then this needs to be included as either a stipulation or the assignable GAR form needs to be signed by both parties.

(Unless that is something you are considering- and if so, then I would make sure you have an attorney write up a vendor's lien deed and have all stipulations recorded). 

Any legal stipulation I could put on my rental contract to protect me ?

@Katherine RobertsDo you have the "promises" that he made in writing as stipulations to the deal?