If you max your 401k at your w2 job, you need to deduct that amount from the $53k limit.

Brett, your firm always take  title before wholesaling and therefore set a higher standard. 

Take your gross revenue (the amount of rent and other fees you collect) and deduct all operating expenses (utilities, property tax, janitorial, lawn care, property management, etc).  

My standard real estate contract in NY here even has a "___-day attorney approval contingency" which is a certain time period that attorneys can approve it even if we signed it on the spot. 

It is a just a breed of it's own that you cannot transfer a standard business model over and think it will work.

While it is great to be proactive, for a standard clean deal on a 1-4 unit property, you will probably be doing a standard homeowner type residential transaction, so you may not need much advice up front that (nothing you could not find online, like here on BP, or in books mentioned here and elsewhere).What would you ask them anyway? 

You would pay the same taxes I do because it's an investment property so we do not qualify for the standard $25,000 homestead exemption.

Contracts without an out clause trap you into long term agreements where standards can be lowered because they have you no matter what.

May end up being am ore profitable than a standard rental... 

I don't think it is standard practice.