To start your REI journey out of state, you have to slowly build relationships and get comfortable.

By the way, it would be the same process even if you had a written agreement.If you are not 100% comfortable with the eviction process - and I can tell you are not - you should spend a couple days finding a good eviction attorney.

Personally, I felt more comfortable just buying great insurance.

Even in cases where we didn't use it (or in cases where a landlord or PM does not believe that is a good practice), it's still comforting to know that we have a two month "cushion" for the landlord (barring any damages to the unit of course) when holding first, last, and security. 

My goal with sales is to be comfortable with rejection and be able to negotiate amazing deals.

How do I protect myself legally from them selling the property within that time frame and protect myself from appreciation in the future if the home gets valued higher than what I am comfortable of paying?

Account Closed mentioned: Some people are not comfortable putting themselves out there. 

Just gauge their comfort level with the draw process.

You just have to be comfortable with the fact that you'd be managing the property out of state, if that's alright with you and you should proceed and take the opportunity. 

Overall, it depends on your level of comfort because some areas of Newark can have great cash flow but a little more dangerous.