I saw a great write up about BP on another blog that was discussing RE programs you have to pay for in Houston, ie, Lifestyles Unlimited.

Would any traditional lender even write a note that small?

You don't want to spend $2500 to write a contract that may not be accepted.

My goal for 2014 is to buy/renovate four to five homes and buy and hold at least two additional rental properties.Currently, I'm a full time Federal worker (I write contracts) but my roots are in construction.

Since you are having all the problems you should document in writing that the lease will not be renewed.

I would contact a Real Estate Attorney to help write up the proper contratct for your state.

Bill Gulley could write a book on "how not to do" all of these.The Dodd Frank Act et al. will limit some creativity to some of these.

Do I need to get this offer in writing somehow?

You lose the depreciation write-off.....

I am reading alot about yellow letters as well and developing my own system, I'll write up a post about it once it starts working out.