That would involve emotions and there is absolutely no place in business for emotions.

I have not consulted an attorney, it's a pretty simple transaction so I didn't think it would be necessary to get an attorney involved to draft an addendum.I'm curious if anyone has any experience in adding these types of contingencies to contracts that protect the buyer all the way up to the closing table?

Purchasing involves combing through perhaps hundreds of candidates over a period of months, creating a short list, visiting properties in person, bidding, hopefully winning one, then managing a rehab, and then interviewing property managers, and then hiring one.

I had an opportunity pop up recently that involved owner financing.

@Courtney Fricke, I don't reckon there's enough equity for a Wholesaler to get involved.

@Avery Mshawn Since its less than 5 units, the property is valued by the comparable sale method so the most accurate way to get a value are, in order: 1.

I figured as much, but it would be a great method for vets to enter real estate investing.

Make arrangements to collect the deposit and first month's rent via electronic methods so your friend is not collecting money for you.   

Long term goal is to get involved with enough buy and hold rentals to generate passive income and, ideally, financial freedom.

My understanding was that my duplex would be depreciated via a 27.5-year straight-line method on a half-year convention in which the half year's worth came in the first year regardless of when I bought the property.