A basic inspection contingency should suffice. 

@Mark Ferguson   Yes I believe this agent in KC was huffing and puffing... suffice it to say from my experience as long as the name on the purchase contract is the same name on the checking account in my case its my POF  then all is good.If its a lender then I guess you need to disclose that when you buying and have a POF from the lender...

Suffice to say, we are two 23 year olds looking to purchase investment property.

If not, will we need a 'loan document' for the purchase or resale of this property or will our Terms and Conditions contract suffice?

Suffice to say, it ain't for everyone.There are other articles out there that tout Detroit as being on the verge of a big comeback.

Hi Kevin,Personally, if you are just starting up and don't have sizable assets to protect, an umbrella policy would suffice.

I won't be giving my budget breakdown on here thank you very much but suffice is to say we are doing fantastic! 

I have 2 options available. 1) Attend classes in person (~$1,000) http://www.championsschool.com/real-estate-school/... 2) Online classes (~$500)My question is this - would the recommendation be to attend classes in person or would online courses/study material suffice?

Usually just a bank statement or two, ID and an application should suffice.

I want to use the tenant first strategy but when I tried to get preapproved by a mortgage broker but debt to income ratio and credit (650 unfortunately)  didn't suffice (was told I could only get 65k loan) my question: is there another way maybe using an LLC to get approved for a larger amount or should I focus on raising more capital from investors/private leading.