Born and raised in Philadelphia, I am searching for markets close to home with rather low barriers to enter.

If the risk and cost is acceptable to you, you could enter into the contract with the estimated cost as the earnest money deposit being held by the attorney to draw on as the suit progresses. 

The "Memorandum" references "that certain oil and gas lease made and entered into this day" but it does not include any terms, provisions, expiration date, etc. 

Enter the basic info, and the spreadsheet auto-populates the rest with a pro forma and a longterm projection.

Find a property, enter basic information from Redfin and Zillow, and the calculator will tell you monthly out-of-pocket, when the property will cashflow, longterm projections, etc.

@Seth Gerber I would not enter into a 5 year term with anybody-well maybe Microsoft or the Catholic Church.

Is their a good place/resource I can go to in order to learn how to add clauses to a contract depending on the type of wholesale entered into?

That if you really take your time to look and learn there is always a way to enter the game with mitigation of risk.

So at minimum you’ll want something written up.If you don’t think the tenants will panic-leave I would just tell them what is going on and explain that you want to give them protection in the event the new owner wants them to move out so tell them you’re going to have a month to month lease where the owner just give 3 months notice before requiring the tenant to vacate whereas the tenant can leave upon 30 days notice.I would do this earlier than later because if you’re already in contract sometimes the contract states to not enter into new leases.Most buyers are ok with M2M tenants in place.

I'm assuming not if it is on a lawyer's website.You can attempt to get a lower payoff although if the servicer is legitimate they will require the homeowner to enter into Loss Mitigation and that process is a hassle.