The goal is 5 properties in 5 years (buy and hold for rentals) so we are in a good pace to get there in the next 4.5 CheersEdison

I'll try to keep it as simple as possible:I'm in contract on a duplex that will be a buy and hold rental.

I am primarily interested in buying and hold rentals and house hacking.

Should that purchase and sale agreement include that the owner is to transfer to me her holding of the existing renters' damage deposit and last month's rent?

I am still new here to BP myself, but have had some experience in real estate (renting and holding long term).

I have been a buy and hold investor for 40 years and 2 months.

My offer on a REO was rejected as too low - the issue with the townhouse is listed at (1)"system did not hold pressure due to damages, unable to find source of allleaks, water heater damaged at side where TPR valve damaged" and (2) "Water Supply and Sewage system was inspected for presence of obvious visible defects.

Since it's a rental (and the numbers won't work very well for a flip as they stand) you will want to run the numbers as if you were going to wholesale to a buy & hold investor.What is the rental income for the property? 

Make sure you figure in closing costs, holding costs, commissions, etc.If you are asking questions about wording an offer, etc, you really need to hire a pro to do this for you.

Are you looking to do flips or are you looking to potentially have some buy and hold properties that would need renovation?