In the time I've spent listening to the BP podcast and reading real estate books, I believe I have heard on several occasions that it is not a good idea to try to time the market.What is the overall opinion on this?

Now, the 50% rule for expenses is pretty solid, and is most commonly found in an evaluation tool for multi-family created by Michael Blanks. 

I have to explain what the title company is, and why we use it to protect both parties.Seriously, I've been a sales guru most of my adult life, and if not for being honest and having integrity, I could get 99% of adults to sign a blank contract, then tear it up and tell them how stupid that was, and why they should never do that, then 15 minutes later I could get them to do it again...

@Michael Blank has some good articles on the topic.

@Michael Blank provides lots of great information on apartment complex investing through his website, podcast, and course.Also @Jered Sturm hosts a free monthly meeting where you can mingle with other real estate investors in the area.I want to connect with other investors, particularly those interested in multifamily buy and hold investing, so let me know if you would like to meet for lunch sometime.

@Nathan Boyer point blank if you are not willing to give it 100% and countless hours of education, action, making mistakes, a little stress from time to time then this is not the business for you. its not easy.

Should have the blank BOR to give to GC's, right? 

You could also just try emailing some agents in your area, and asking for some blank versions of what you need.Edit: Here are some standard forms you could purchase: http://store.car.org/car-standard-forms/car-standa...

If you have an attorney that you work with on occasion I would contact him or her and just run it by them. 

On rare occasions when my attorney is not around I use the template that we have.