I love the title to this thread because I can reply in one sentence - Anyone living in a 2 bedroom property in South Florida is paying ATLEAST $1200. 

Served five-day notice for December rent on 1-2-2017 (see first sentence).  

As I mentioned in the first sentence, I grew up in a multifamily home in LA and when my suddenly passed away my oldest sibling stayed in charge of it.  

Being stuck in the "rat race" is far worse than a gamble....its a life sentence with no guarantee of Parole.

Use the sentences: ' I usually don't put anything down; or may I assume you don't need a down payment.'

I am the one signing it and have to make sure I understand every single sentence, before I'm commiting to it.

From this experience, I'm thinking in the future I might include the words in connection to the 10-day inspection period sentence, "will purchase as-is with exception of health hazards discovered during 10-day inspection".  

glad to share costs ect, just connect with me as it's not a 1-2 sentence answer.

I get the basic idea, but I do not fully understand the  last sentence "you could structure the deal whereby the private lender gets a note and mortgage (deed of trust) in first position, while the owner takes back a note in second position."

I have seen one-page contracts that investors seem to use with one sentence Subject To Financing or Inspection.