This way, you know the contract itself is legit and you just need to worry about filling in the proper terms (i.e. your earnest money deposit, specifying your escrow/closing agent, giving yourself a favorable inspection period, etc.). 

I don’t have the money to put a big down payment on this thing, and based on their numbers I think I’d have to get it closer to 700k for it to cash flow properly (almost $100 per door at 700k and 100% financed).They may be willing to seller finance 10%.

My gut feeling says you probably won't get all of the rent, and they'll be out by the first.The most costly expense is a bad tenant, so once they are gone, make sure to screen your next tenants properly.

@John Doiloitte You cannot make them leave but just give them proper notice the inspector is coming.  

Also - If I verify all my contractors have proper insurance does that negate needing builders risk?

It was under market, so we just gave the tenants proper notice and raised the rent. 

50% rule means your expenses should run about 50% of your income (and it will when you implement the proper operations). $495 x 6 x 12 = $35,640 gross income. subtract 5% vacancy and your effective income is $33,858.

I am not aware of any free services but my phone provider is cheap and has this functionality if you are somewhat tech savvy. 

You can be fined and lose credit access for failing to obtain proper authorization before investigating an applicant's credit history.

Make sure the deed and mortgage are recorded properly, any liens discharged.