I have experience with contracts and will be writing a legal agreement between us (Overkill maybe but I want to get in the habit of doing things right early on) so any tips on what needs to be included?

I informed her that despite her knowledge it is actually indeed legal.

Is the property under contract?

Just a list will be worth less than something you add value to.Check to make sure you have the legal rights to distribute the data in the product you bought. 

My friend is not licensed, nor insured - but he knows construction and is sub-contracting out the work to reputable laborers from his personal network, some also uninsured.  

Do you have something under contract??

Hi - I have 3 wholesale/ rehab  properties, in surrounding DFW area  that I am working on that will be under contract in the next day or two.

I put two properties under contract this past week, both of which had received letters from other wholesalers. 

J Scott was letting you know that there's a book available on Bigger Pockets called The Book on Flipping Houses that is not only packed with information - it also contains a template for use in putting together a contract.

Definitely check out the legality of short term rentals where you are buying... that issue is my nightmare right now in FL - where the city only pursues short term rentals based on neighbor complaints.