This can be a pricey item that your lender (aka seller) might be willing to forego.You would still have the other fees associated with buying the property, mostly title company related fees.

Welcome @Luis RondonI'm in Miami market also, and I must say you have come to the right place for all things real estate investing. local Miami Real Estate Investors meetup at DREIA which stands for Dade Real Estate Investment Association. 

In fact I'm on the board of directors for the North San Diego Real Estate Investors Association (www.nsdrei.org).

It's a good start but may not be enough as huge investment is associated.

There are a lot of people carrying firearms here in Dallas, and most have never had any training on how to handle a firearm, and it does pose a threat to law enforcement not knowing who is carrying and who are not carrying.

Vague language can nullify the clause if it establishes no guidelines to follow.If you are going to sign a clause you need to make sure it is written in your favor or as neutral as possible. www.adr.org is the american arbitration association website which can walk you through the proper steps to setting up the clause and finding a neutral arbitrator(soooooo important!)

Is the location no good or maybe a bad condo association? 

He seemed to think the threat of death was real.  

Generally they get called out when they are a threat to the safety, soundness or security of the property. 

As well, you will learn the ins and outs of conventional financing which will give you a foundation for greater understanding of nonconventional financing.You may also want to consider joining several real estate investment associations and attending real estate meetings found on meetup.com and other sites.