One other thing, don't be reading Dodd Frank posts here prior to around Feb of this year, too much speculation before the final announcement.

@Will Barnard It is extremely rare to have a release of EM to a seller in Texas prior to closing.

He is passionately insisting I go after the prior owner for compensation.We do have all the necessary things to warrant compensation.

LOL I am a SoCal native and spent 25 years in Las Vegas prior to coming here so needless to say Kermit is definitely a culture shock! 

Currently the tenant is paying 2200 monthly but will not be able to close on their prior seller finance agreement.

I would add to the Additional Terms section that the buyer has the right to choose between closing after the holidays (set a date), or closing prior with a vacate date being after the holiday. 

What they have is paving fabric , it is but down prior to repaving a badly cracked road , it works similar to drywall tape , it doesnt allow reflective cracking , or the old crack to reappear thru the new asphalt.  

I have read that many people on this site research HOA's prior to investing in the community.What questions should I be asking?

Prior to the webinar I mentioned, I had been self teaching myself to trade in the stock market, which wasn't going too bad.  

It's a nice touch to contact them prior to you having a deal.