Cody McDowell The first thing I should say is that I do not see the market here in Omaha crashing like your mentors seem to believe.Not only is Omaha not overly inflated in terms of values, but I see a definite shortage in single family housing that is affordable in the sub $250k price range.There are bidding wars (that I have been a part of), there is appreciation and there isn’t enough building.

Preferably a set of eyes with some legal knowledge. especially so you don't draft up something that violates your local lawsI did a quick google search and Legal zoom popped up, they offer a paid service: https://www.legalzoom.com/personal/real-estate/residential-lease-overview.htmlI also did a quick search for lease templates and there is no shortage of them online:https://www.google.com/search?

Instead I'll point out a few positives: great potential for appreciation in some pockets, low purchase price, no shortage of tenants (either market or subsidized), low cost of living (especially as compared to the neighboring DMV metro area).Can you make a killing in Baltimore City?  

@Max T. in some places there is a severe labor shortage. 

There certainly isn't a shortage of demand for housing in Elyria. 

This area has exploded and is currently facing a housing shortage so prices are going up, up, and up.

@Rylan Macallister @Brad Carrier there's a huge shortage on housing right now.

I was doing airbnb'ing on a couple of places in 78704 but now I see that there is an extreme shortage of housing on the market currently so I am selling.

Shortage on material isn't very promising and may increase carrying costs because of the waiting for things to come in. 

That's a lender estimate based upon credit reporting which does not factor in recent payments, outstanding fees, escrow balances (or shortages), etc.