The only thing we are a bit confused on is he said you can simply "back out" of the deal if you change our mind...but how would you just "back out" of the contract if there is nothing actually wrong with the home?

You may be confusing 'profit' with 'cash from the sale'.

So there is no confusion:  If this was a mortgage foreclosure, they have a 6 month redemption period. 

Note: if roommates change during the tenancy, a lease addendum is signed and the security deposit is called out so that there will be no confusion in the future, 'The Landlord and the Tenant's agree that . . . '  This lease addendum may also guide your bank record when the funds are withdrawn later.

And yes, attorneys make money from forming LLCs, but they make way more when you were negligent and didn’t know what you didn’t know and end up in a lawsuit.All this being said, LLCs confuse lenders because they don't understand that most of the time they are disregarded entities (for tax purposes) and rather than try to go another level to understand what the borrower is doing, they just outright give unfavorable lending terms. 

No, you generally can't get better cash out on SFH by increasing rents- you're confusing CAP rates with comps.

I've been buying EDV heavy for last 10 months whenever 10yr above 4.5%forward PE 16 on sp500 puts fair value SP at about 3800, so could be really bad for still frothy MAG7, so your MAG7 puts should really perform This entire time on the highest of high rate eras, not to be confused with a high rate era, people overextended the quality option on equities and weren't willing to take risk on-- small caps and BTC.

I'm not giving up just confused on how to find a good rental. 

Asking others can be helpful but at the same time make things quite a bit confusing as well!

As far as the refinance loan, I am honestly quite confused about this concept.