The legitimacy of the contract probably only really matters if you have to go to court/arbitration to enforce it.That said, your title company would be a good place to start in terms of getting a legal review, I'm sure they have a real estate lawyer(s) on staff or retainer depending on the state.

Why do you think purchase contracts are so long and have such small print?

New to this platform, long term listener of BiggerPockets podcast.

Sorry it took so long for me to respond but I think they nailed down most of the reasons already.

How do terms usually work? 

How long of a period is this P/L covering (typically a month, quarter, or year.)

If the due on sale is trigger I also have my back up plan (just realized that some old freddie mae) does not have this clause on its terms).

I was looking to have it convert to a long-term mortgage and eventually cash out refinance to build a second duplex once enough equity built up 

I am looking to purchase a house in Havasu City AZ for a short term rental property.

Finally, most companies won't loan to an LLC without a personal guaranty unless the LLC has a lot of assets and a very long history of creditworthiness.