Many people don't realize all of the great third party apps that integrate with Quickbooks to make record keeping and tracking more convenient.

Insurance, contractual agreements between all parties stating all details, hold harmless agreements and make sure the agreement covers the worse case.

Here are a couple of links, best wishes:http://www.facebook.com/thecashflowpartyhttp://www.meetup.com/The-Cash-Flow-Party-Dallas/

If so, maybe take out the additional equity and purchase another rental property or other investments (no parties allowed, lol).  

I help my business partner run his property management company, ERS Management, in town, and we are actively managing about 750 units for approximately 75 local, national, and international investors and are rapidly expanding.I always love to chew real estate and help people find investments that can benefit both parties.  

Toughest part is finding one you're willing to live in that still cashflows. 

I believe I have something that could benefit both parties, but I want to hear from the community.

Is that conservative enough? 

Buyer's Costs: Buyer shall pay one half of the Title company's escrow fee; all other recording fees; the costs of any survey and a ny third party reports ordered by Buyer (or its lender)

That sounds like some solid advice to make conservative estimates and keep me in the black.