Then say if you do not receive your deposit by that date, you will file against them in small claims court.

I keep up to date on the BP real estate podcast but I started from #1 and am currently trying to get through the rest of them.When we started searching for homes, I immediately located a house on the MLS that we purchased from a wholesaler and flipped it within one month to one of my buyers that were looking for a remodeled house below $100k.

Track each and every penny in detail in your accounting software any time you make a payment, and there you have a list ready at the end of the year with date, amount, vendor, and type of expense. 

Out of curiosity, what has been your biggest rehab cost to date?

Best deal and most profitable to date.

Best deal and most profitable to date.

I currently own a SFH and renting out the basement for extra income.So far, I have decided to go into REI with a target date of go-live or acquiring my 1st investment property in October.

I would proceed this way for some time until you build trust and experience with someone....just like dating. 

But you must disclose the fact that the property is leased through x-date to any potential buyers as they will be obligated to the lease terms when they

If it was a property I was managing, I'd get the owner and tenant to mutually agree to terminate the lease early and work with the tenant on flexible dates for move-out.You should speak with your local municipality/county as the rental property likely needs to be repaired up to their code, and they can assist you with getting the tenants to vacate if it's a true safety concern, though you may be on the hook for at least temporary accommodations for them if they are asked to leave before the lease is up.