In my example above I would report the $300 per month rental income because you will also a have the HUD 1099. 

I’m just looking for some examples.

I'm very fresh to the whole real estate world in practice, I'm trying to gain some experience of any kind.

As a example of just one property I own.

For instance, you might say you want to learn everything about commercial real estate (just using it as an example because this is what we do).

For example, 100k house you need to buy for 70k all in, which means that you need to get that house for 70k - Rehab cost (get to know a good contract with a middle of the road price point so that you are not telling people you can do a whole house for 5 grand) and then subtract the fee that you want to make on the house and that should be the target.

The example they used was Morris setting up a liability policy for a situation where their reputation was destroyed and they got sued by investors.

Your example: $100,000 ARV for a SFR.  

With that much appreciation, you could use a 1031 strategy for example into an even bigger asset. (5+ units, maybe out of state?).

Also, can you provide some examples of clauses to include in the addendum?