but in premise I think your statements are correct.and your correct in the day I had some pretty significant credit but no more.. have a different business model  we pay cash for everything. 

There are some good templates online, and more than likely the GC will have their own contract that they always use.If you do decide to go without an attorney make sure there are a few items on the contract regardless.

@Troy Gravett nailed the other items. 

I keep getting properties from my agent in Austen area. I keep plugging the numbers and it is a blood bath.. it is so wrong, that I am thinking that I am doing something really wrong. Is it me or is it that retail pri...

That said, regardless of how you learn, it's important to reach out to people who are interviewed, write the books, do the deals locally, etc. and get to know them and their biz model better than passively listening or reading about it.

Supposedly this is supposed to cover any type of repair on the items listed within the policy.

The format you must have is a "S" corp for short term flips, wholesale sales, or other short term sale of an item.

@Nick DoriaThe most often overlooked item (in my opinion) is the condition of the building(s).

I modeled it after a picture I saw of Brandon's on this site anyway.https://docs.google.com/spreadsheets/d/14C0oawhJyD...Thanks,Matt

If rental rates are at least 1% of the price of the property ie. for a 150k property, rental rate is 1500 a month, then you have good intrinsic value to work with for a buy/hold model.