I get an attorney to draw up a mortgage, I buy a property for 40k, I reimburse the guy as agreed, and if I fail to pay, he gets the property sinced it's mortgage.

Typically they will do both title and noticing for an amount that equal to the reimbursable amount set by the county.

also in north carolina, the seller chooses the attorney, meaning it's difficult to ask the attorney to not state the amount i'm taking home...i find it innapropriate at the table to explain to the sellers that the 50,000 they see on the settlement sheet is not really what I'm taking home, after paying rehab, other expenses, and reimbursing my downpayment, but i wish there was some way to make them see it like that.

I technically get reimbursed for the tenant's usage in that unit by way of slightly higher rent.

I have a large garage behind 1 of my propertiesthat I keep for my shop , (lots of toys with engines) I have a submeter just before the panel , every month I read the meter and reimburse the tenant for the electric ..

You get reimbursed in stages for the repairs you do.

I think I can handle the equitable interest concern with a simple clause in the document stating that the payments do not vest any interest in the property, but to avoid creating taxable income while still having a legally binding agreement, I'm struggling.The best I've come up with so far is an agreement that is titled simply "Agreement" and it outlines that she is reimbursing me for half of all expenses and I would invoice her for half of all the bills that came in each month related to the house.Would a "reimbursement agreement" pass the sniff test with the IRS if it ever came up?

It seemed like a type of reimbursement method .

But when it comes to reimbursement of CAM all it says is tenants will have 30 days to pay from receipt of invoice. 

You have the absolute right to choose to cancel without requesting any repairs.Section 12.B. says you can remove the contingency **OR** cancel.As an Escrow Manager, I suggest you also email escrow (including your agent, lender, etc) and give them written notice of your intent to cancel and request for the return of the EMD so that they stop working on the file and you don't get any cancellation fees or hard costs incurred that you will need to reimburse.