We are in contact with the buyer but he has moved to Thailand and basically has no records for anything that he can put his hands on.

In particular you need to know: how much notice you each have to give to end the contract, what obligations you have regarding safety and whether you are obliged to lodge the deposit with an agency-Find a lease template specific to renting out a room online and fill in the details.

If someone is not willing to sign this type of contract they have basically declared that they will not be responsible for working in a timely manor.

Basically, I'm seeking advice as normally I'd jump at the chance to own a duplex for no money down but the fact that the home is underwater sort of worries me.

Basically all post here are correct.

Yes the increase from 4 to 10 pgs. was basically what I was referring to.

I've read about analysis paralysis and feel eager to get started with investing, but also want to put in the proper amount of time upfront to learning all of the basics and building a solid foundation of knowledge.

Basically reading the books will fill you in on the acronyms for residential and commercial investments.

Sorry if this seems too basic .. maybe that's all obvious!!

Basically its somewhat the same as the lender doing an escrow holdback of 1.5% of the total project costs.