Always better to do a good job of defining the things that are unique to your situation even if you use a standard agreement of some sort.

I like philosophy.My philosophy on what you are asking is-https://www.biggerpockets.com/renewsblog/2014/01/1...I live in LA, so same capital/returns situation here.

Ultimately, time is going to be a determining factor in the success of most investors.I have been fortunate because I have learned enough over the years to handle most any situation.

HII posted this summary to help a beginner investor in Dallas Ft Worth yesterday...thought there might be some info you could use too...Hi as a beginner investor with the flexibility you have to move often and LIVE in a propertyyou can have the best of all investor  situations with best loan terms, owner occupied PRIORITY TO WIN HUD BIDS and get bank foreclosures, all while maintaining complete control over timing, tenant selection and growing your appreciating income producing portfolio at your own pace.

Not sure what your current situation is.From what I see you can a) take the FHA and live in it for a year, b) look for seller financing, c) cash out your other properties to the max and use that to purchase another property for all cash.Hope this helps!

Hello Everyone , Here is a situation i'm in and i am worried.

Also, don't put yourself in a financial situation where you feel as if you have to rent your unit ASAP. 4)- Plan, plan and plan some more.

In my twenty years of out of state real estate investing of five properties, I've never experienced such a situation. 

No piece of paper can prevent hurt feelings if the situation turns bad.

Would need close to 50% down in that situation.