I recently bought a two family house under a single member LLC, mainly to protect personal assets in the event something happens.

Still, if you purchase an asset with resale value, I myself would be confident testing market for 2 to 3 years.

Specifically, I was wanting to strike through the part of Clause 5 where it says Note: Buyer's obligations under this contract are not conditional upon obtaining or closing any loan.  

My Goal is obtaining financial freedom by purchasing rental properties and using the BRRR strategy.

The borrower and the asset itself.Borrower:Your credit (are you a trustworthy borrower), are you capitalized enough to float this project/ cover the debt, track record (borrower/ contractors experience).Asset:Comps (as-is & ARV), LTV metrics (lender can help verify these if you have questions), detailed budget and scope of work, tentative schedule, exit strategy.Of course any lender/ partner will dive in a little deeper after the initial pitch but if you have all of the above ready for your initial conversation it will go a long way in getting deals approved/ partners on board.

That portion could go towards providing future liquidity and/or buying additional assets.

What if a few years down the road the seller runs afoul of the IRS and they file a lien against all of his assets.

Hello - I'm just starting out and the biggest hurdle for me is related to obtaining the necessary funds for a down payment.

Unless you have all cash, then obtaining the loan will be the most important,.

Find asset-based lenders who can do permanent loans.