Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

What do you do to ensure that the tenant is responsible for security deposit disputes since that is the largest reason for owner lawsuitsHow familiar are you with the newly changed laws that can affect you the owner if they are not used correctly?. 

I'd also require a 2 month security deposit, but that's just me.

You do have their security deposit but do not use it or tell them you will use it!

ARV $58-$62kI've never approached a seller to make a package deal and would be interested in hearing from those that have done this.

I’m really trying to secure my second investment property and the tax/landlord friendly state seems like a good idea, just as long as it’s not in the “hood”.

Since states have different requirements for credits and deductions, I'd check what KS offers..Once all this is securely in place, then I'd start looking for first deal. 

Or secure a HML for the remainder needed?

At the very least have conversations on the phone.That being said with new types of securities exemptions 506 (c), Reg A+ and CF now available there are significantly more opportunities to reach new investors who are in return trying to find quality sponsors.

I approached them with specific terms that would benefit them and secure their investment on me (interest, payment due dates etc..).