@Lindsey Orr welcome to BP it's a great resource to investors like yourself. you are able to download both contracts here on BP by going into your tools tab then going to file place there you may search for the contract you desire.

You may have to pay in quarterly estimated taxes (Form 1040-ES) depending on your total tax liability, and how much you have withheld on your W-2.

What would be a great deal for him financing it for me. 

You can purchase state specific, lawyer drawn-up documents (lease, application, pet lease, etc) right from Bigger Pockets at: https://get.biggerpockets.com/forms/index/I checked and the do have Ohio forms.

It's hard for me to wrap my head around that. 

That's how I make the numbers work for me.

Perhaps form a separate LLC for the property.

I’m downloading a copy of the forclosure notice of trustee sales when they get updated on my County clerk’s website.

Maybe someone can tag him for me.

The next action step for me is to find sales/comparable data for my market for the purpose of getting a better sense of what is selling and for what price retail houses are going for, along with comparables.