I have got this Contract to purchase Property in LA County, California from a company that Acquires Acquisitions "A wholesaler" I need the contract looked over for anything that may not look right or be a issue...    

During this time we can decide if we like the area, while searching for other areas (perhaps less touristy) and if so, purchase an additional home in a traditional residential area and use the "vacation" home as a rental?

The house cost $80K, the first renovation was $57K and enclosing the patio was an additional $12K. 

In addition to managing properties I have a background in Marketing and can honestly tell you that lead generation isn't a magical fix-all term. it's a lot of hard work and often a big investment is needed to start seeing results.

Maintenance is an additional cost. 

Any additional inputs are very much appreciated!

Additionally, when talking "Cash on Cash" and Cap Rates with other investors, is it typically assumed that a Cash analysis on Cash includes the types of expenses I list below?  

I am lining out a long term BRRRR strategy for acquiring properties in Navarre, Destin, Panama City & Myrtle Beach area.  

The upside is the rents are below market value and there's an additional revenue opportunity with the parking spaces (they say there's 7, but it looks more like 4-5, realistically).  

I would tell them your concern about vacating and you having to eat the costs of an unexpected turn over and that you would like to help them with their new exciting addition to the family as much as possible.