I offer an easy-out agreement to the owner, but don't want to lose out on monthly fees for longer stays. 

., 1 year)]Security Deposit: [Enter the amount of the security deposit]Background and Credit Check: [Indicate whether applicants will undergo a background and credit check]Rental Application Fee: [Mention if there is an application fee and its amount]Don't miss out on this fantastic opportunity to make our lovely single family home your own!

With that said, there are factors that come into play there.  

Their sky-high value will begin to decline at some point.End of year I am grossing $25k each unit, and netting $11k on the paid off unit after taxes, insurance, HOA fees and modest repairs.

Find your closing paperwork and factor these costs in.

So in this example, if the home was found off market you may be able to pay $20k to the seller for his equity, but if it was on the market you would have to cover realtor fees and would likely pay closer to $50k.I hope this helps! 

He also owns propwire.com which I currently have a free account that shows the history of the property and allows Skip trace for a fee. 

I see it has an area for fees in lieu and an area for security deposits.

So, if you 1031 into an asset worth $700K or more to fully defer taxes, you'll have around $240K or so to put down (there are fees and deductions so these numbers are general). 

For rentals, remember to factor in costs like renovations, property taxes, insurance, and potential vacancies.