Credit reports actually expire after 4 months.

However, if there’s a lease in effect, you’d have to honor it and you wouldn’t be able to make any changes to the terms of the lease until it expires. 

@Dewayne C.Quickbooks desktop version should be able to handle the bookkeeping function that you are looking to have done.If you are looking for a tax-software to self-prepare your return, any software should be able to handle it so long as they provide Schedule E in the package.Alternatively, you may want to work with an accountant to handle the back-end while you work on making more connections and analyzing more deals.

When I find a note deal to purchase or broker how elaborate (details and expiration time) should the Option be to take care of the due diligence process?

As part of the process they digitally e-sign my rental agreement, authorize a security deposit, and give them the option to pay by credit card (with a 2.9% surcharge), or send me a check. 

This will help you convert your liquid assets into more real estate assets.

Doubt he will do any type of E-signing.

The income is documented on Schedule E.

It sounds like the lender has a value that exceeds what you are willing to pay, and that value would have be disputed, and if unsuccessful, you may have to wait for it to expire - usually 3 months. 

That allows us to take all ordinary business expenses on Sch E, including education, marketing and anything else from the business overhead world.