We do, but this is an appropriate forum for a finance question regardless of the jurisdiction in which OP is operating.

With the OP not from the city asking about returns and purchase prices they most likely do not have an in depth understanding of this city and it's neighborhoods.

I'm just worried because I know that the more confusing the wording gets in contracts the more room it leaves for interpretation of the wording (in my op) to the point that a "good "attorney could prove the earth is still flat..

I suspect you and the OP are comparing apples to oranges. 

The OP's location is in the profile- Tampa.

To that degree the OP's landlord lived up to his end of the bargain.

Thorough and just what the OP needed to read. 

I never use prepayment penalties, but there is not a lot of interest to be made on these buyers.Pretty sure the OP would be challenged to get an option to buy from the seller at this point.  

Here is how I would view this deal from a numbers point of view:Mortgage Rate 4.50%Length of Mortgage in years 30Monthly Mortgage payment $491.89 Taxes $272.67 Sewer and Water $- Trash $- Heat/Utilities $- HOA $- Cap Ex and Ops $150.00 Insurance $83.33 Mgmt Fee $180.00 Vacancy $144.00 Total Expenses$1,321.89 Unit 1 $1,200.00 Unit 2 $600.00 Total Revenue $1,800.00Cashflow/month $478.11 Cash on Cash Return 19.27%

Sounds like the OP was looking at an installment sale / contract for deed / land contract type of sale, based on stating the owner collects payment but never transfers a deed.