In the 1 year lease you can provide a option to renew under the same or substantially the same terms if the tenant wants some assurance. 

Prior to scheduling a showing during a casual conversation, I ask questions to again assure they understand and are fully aware of what will be required.

LindekugelMy government has assured me that this inflation is transitory, so I've been making all of my decisions based on that advice...

I don't have a partner and the most important thing the program was able to give me was the assurance I had picked a good market, lender, teams and execute my business with an already tested system/processes.

First he didn't seem to know even the basics of real estate terminology when pressed for more information which wasn't terribly assuring. 

The price is fixed and usually anything from the inspection report is fixed prior to close (at least in my limited experience). no way turn key operators talk to each other about buyers who may or may not close.. its not that tight knit  I can assure you 

Additionally, a sellers premium is typically added to post-sale tax liens which increases the price of an already risky investment (risk being no assurances you will hold deed to the property).  

Using generic docs off the internet without benefit of an attorney is almost a guarantee that you will be violating some law somewhere, either federal or state.The proper documentation does a few things:  It defines the terms by which you both abide in the event of a problem or disagreement.It assures your relative that you are a professional and are acting accordingly instead of flying by the seat of your pants. 

We refer the business out today because it is very important to get with knowledgeable people to assure you don't create problems and you can concentrate on running the business. 

First you have to assure yourself you are dealing the owner and in fact, the only owner.