Then, download the BiggerPockets Ultimate Beginner's Guide and start reading some more!!

Can also download here: https://apexaz.com/buildwealth/buildwealthpacket/

I'm pretty sure you can find some of those 'boilerplate' type 1 or 2 page purchase contracts, as well as simple assignment contracts in the downloads section of this site.Whether or not they would hold up in an NC court, if it ever came to that, I couldn't tell you.

@Cleopatra MonteroWelcome take full advantage of the BP resources.The Real Estate Agent’s Ultimate Guide to Working with Investors http://www.biggerpockets.com/renewsblog/2013/08/24/real-estate-agents-working-with-investors/Download BP’s newest book here some good due diligence and step by step what happens in a REIA meeting in Chapter 10.

I downloaded their free market report at the beginning of this year and the mid-year report in July, and I get emails from them now with market updates and trends.

I have document that you can download about things to look for in a passive investment, as well as some links that may be helpful.  

The best way to explaining this is for you to download an IRR calculator spreadsheet or build your own simple one and play around with one.For what its worth most deals I deem meeting minimal IRR standards is 13-15% but you have to dig a little deeper to uncover the real placements of cashflows and capitalization events... and then dig even deeper to verify the assumptions such as occupancy, rent increases per year, and what reversion cap rate was used.Again I don't look for IRR cause its manipulated a lot instead I look at total return on a 5 year basis.

Here is one I uploaded to BP file place (free download) but it is a bit old, fyi.https://www.biggerpockets.com/... 

The tenant application that Tellus uses is a lot more thorough than what I used to use (which was just a form I downloaded off a google search) so I'm happy with it. 

It downloads transactions from all of the major financial institutions related to rentals so all you have to do is tag and categorize once a week/month depending on your preference and add any memos to help you remember the transaction.