If you are set on the idea, for liability I would have the attorney draft a waiver, simple and cheap.Again, personally I would use that space for guests and possible include a gym pass to a local gym?

You need to know how to do all the different types of deals sooner than later so that you have optimized your deal conversion capabilities as MOTIVATED sellers are hitting you and your organized network you are to build.  

And if they find it sooner, pro-rate the rent. 

They will go down sooner or later, and if deals work at the current cost of capital, then they will look even better when rates drop.Maybe it's time to evaluate other markets?

A verbal agreement is fine to get the deal figured out on the front end, but definitely try getting that deal down on paper sooner rather than later!

Tailored workout plans in our full home gym.

Whereas little far from amenities like pool or gym. 

. - I think the best suggestion to the owner would be a sale leaseback option as a way to incentivize them to think about pulling the trigger sooner. 

One of the biggest things I regret looking back on my career is not getting into multifamily sooner and thinking that I had to start in residential and then to slowly work up my unit count.

It is an older building, early 1900s, and I can foresee some major repairs coming within a few years if not sooner.