I'm also currently studying to get my real estate license here in the state of Virginia -- with a goal to be licensed, and associated with a brokerage here in the Northern Virginia area before the end of this year. 

Ask for a reserve study from the HOA to see the expected remaining life of some of the larger cap ex items, such as roof, parking lots, central heating/cooling systems, or hot water heater systems if applicable to that complex. 

They could change part of the contract language and your signature is already there.

In fact, if studied, the lowest caps sfrs might actually be the most profitable.

My background is in Finance and Marketing; I studied RE investing briefly in undergrad.

Total novice but a quick study and willing to learn from folks who have experience sucess fully in the St.

I use the same ICA, with different language about payment, for sub contractors who don't have their own agreements for us to sign.

You might want to agree to appoint a neutral to arbitrate any dispute.Also, if you think that you might want to own your piece through an individual LLC or trust someday, make sure that the language of your LLC agreement permits a transfer to a related entity whenever you want to do so.

I have been studying real estate for about 3-4 months.

Glad to have you on here.Advice for this site...1) Set up keywords for your area and interests so that you're notified when they're used and then start interacting.2) Read through  The Ultimate Beginner's Guide3) Go through applicable blogs and forums as there are a lot of great resourcesAdvice for REI...1) Pick a strategy and study up on what you need to know/do for the 1st step and then do it, then repeat for all following steps until you have completed your first investment then repeat the process and keep learning.