Buying and hold A - Assets for Appreciation is where real estate wealth is built. 

Such a thing doesn't exist, but the lack of litigation of it doesn't mean it's not risky.Non-refundable deposit is like diet bacon...call it whatever you like, such a thing doesn't exist...by definition.Rather, what you do is charge a Holding FEE. 

Multi-family is the area where most wealth is built in real estate.

They are already wealthy to an extent and some make 7 figures a year income and on the low side maybe 300k a year profit from job or business.I don't know your situation but it sounds like you are sensitive to max yield earning potential off of the 900k investment.

@Steve C.Are you independently wealthy?

The #2 largest endowed university in the nation is going to wealthy and around for a very long time, and will continue to expand.

And as for where I am putting my wealth, I am buying companies, assets, and keeping some dry powder to buy out fools who got in over there heads and have poor to no liquidity for when people, like yourself, are running around with there hair on fire freaking out in emotional swings and fits. 

It’s not a major point of contention because my parents are extremely wealthy but I wish we had taken the step of having an official agreement and an intermediary handling the payments so I could have something to back me up when she says this.

Something I'm actually holding with curiosity and compassion is how to be authentic to my values and beleifs and pursue wealth. I

If you die without having a Will and Trust in place, you are just going to make a Probate attorney very wealthy after you are gone.