I'm VERY new to all of this, I don't have much of an idea on what contracts to use, to use or not to use an agent in the process, typical deposit I should put down while finding a buyer, etc.

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

We have aprospectuve Tennant who's employer will be covering their rent for their 12 month contract.Anyone dealt with this before?

Now I’m wondering, is this allowed?

What made you interested in investing in this type of deal?

Quote from @Peaches Jones: You've asked this same question in multiple places.

I want to be covered when closing on this property.

This trend of rising rents is expected to continue for the foreseeable future.

If you are Sally, this is useful to you.

Any thoughts on this ?