After I close I will still have 30k in immediate cash and I have stock market investments that are another 30k, so even more frustrating that it's not even a monetary issue

Are there any potential risks after I take ownership, like monetary penalties from the city?

If my buyers walk then I will be forced to sue them for any monetary damages that will cause as well.

What this means is the trustor has zero obligation to the lender past the property in the case of a foreclosure the lender cannot receive any kind of monetary judgment against the owner.. and for the benefit of anyone reading this.. ( I am sure you know what a purchase money loan is.) 

but you also want to create an incentive for people to stay.From a tenant's perspective, there is also a monetary cost to moving, not to mention the effort it takes all the way down to the little annoying things like  changing the zip codes on your credit cards or address on your drivers license.Great original post by the way, every new investor should read it. 

But not worth the headache if the tenants bring about non-monetary stress.

At the end of the contingency period, you and your agent will let the seller know if you want to move forward with the purchase, if you want to terminate the agreement, or if you want to ask the seller to make repairs or issue a monetary credit before closing.

Rarely does it make sense to file a claim where a monetary collection objective exists unless there's insurance proceeds potentially waiting for you at the end of the tunnel.

Some people define "benefit" only in monetary terms.

It was well worth it since I had monetary gain, but I also learnt a lot from this project!!