Pictures: https://drive.google.com/folderview?

If the landlord's already owed $500 from the security (say 2 months into a 12 month lease), that may not leave much more security to cover all future damages/unpaid rent/cleaning fees/etc. at move-out.

After negotiations, the seller just submitted his final over.Heres the deal:$154,900 purchase price and seller agreed to cover all closing costs.Monthly expensesMortgage: $840Taxes: $50Insurance: $225Flood insurance: $60Vacancy of 5%: $107Cap Ex: $172Total monthly expenses: $1454All 4 units generate $21503 units rented out with me in the 4th generate $16251st year cashflow: $171/monthAfter I move out and can rent out the 4th unit cashflow: $696/monthWhat do you guys think?

He was used to a 1 1/2 page contract that covered "everything" (but really didn't).

The original plan was for the tenant's side to pay 100% of the mortgage / taxes / insurance / PMI, while I cover trash and water for both sides. 

You'd certainly want to have an umbrella policy in place, in case your business insurance policy doesn't cover everything.- You mentioned mobile bathrooms (hopefully not port-a-johns). 

Rent covers a lot of different expenses that new LL's don't see going in, then try to recoup from tenants. 

Is the home owners insurance covering the cost?  

Have you seen pictures of the property since that last tenant left and now that it's vacant? 

*HOAs usually cover lawn care, sprinklers, lawn watering, siding and exterior care, insurance, and more                *This covers most of the exterior line items that you would otherwise have to address in a single family home.