Figure out the After Repair Value (ARV) - this is the amount the house will typically sell for in excellent condition to an owner occupant.

Our houses in FW have air conditioning and heat, so I'm not familiar with having none. 

Once the property is under contract I have it inspected to determine the current condition and life expectancy of all major components and appliances.  

If i use the HELOC to pay off all my debt and increase my FICO, UW will Condition for the HELOC be paid through the equity of the property anyways?

Purchasing the property with all cash was a joint decision, and a change in our plans based on what the seller was doing and the condition of the house- problems that came up after we started pursuing the deal.

However, there are some other forms I need to be pointed towards.I am in need of a move in/move out a checklist, so the tenant can make a note at move-in of any concerns they have regarding the condition of the premises and to establish responsibility for any damages at the time of move out.I also need a rental application. 

Their fragile health condition is not a defense to your liability. 

But anyways, I wanted to ask if someone had a list of recommended contingencies to put on their offer so it is easy to get out of the deal or re-negotiate the price if the condition, income or repairs are worse than the pictures or details provided and avoid losing earnest and option $$. 

But anyways, I wanted to ask if someone had a list of recommended contingencies to put on their offer so it is easy to get out of the deal or re-negotiate the price if the condition, income or repairs are worse than the pictures or details provided and avoid losing earnest and option $$.

Pay attention to rents, condition, price, what sells fast, what sits, what price drops, ect.You won't notice it at first but after awhile you will internalize the data.