We are sick of renting and getting nowhere so this property seems perfect for the time being and will allow us multiple options to cash out on the deal later on and fuel future deals.

I'm not saying the market is going to tank, but it is balancing out to where buyers have more leverage than they did a few months ago.

This can be especially helpful if you need to close on a property quickly.Less stringent credit requirements: Private money lenders may be more willing to lend to borrowers who have less-than-perfect credit or who are unable to qualify for traditional financing.More flexible terms: Private money lenders may be more open to negotiating terms that are more favorable to the borrower, such as flexible repayment schedules.Cons:Higher interest rates: Private money loans usually have higher interest rates than traditional loans, as the lender is taking on more risk.Short repayment terms: Private money loans often have shorter repayment periods, which can make them more difficult to pay off.Limited availability: Private money lenders are not as widely available as other types of lenders, so it may be more difficult to find a private money lender who is willing to work with you.Overall, private money lending can be a useful option for borrowers who need financing quickly or who are unable to qualify for traditional loans, but it is important to carefully consider the terms and costs before entering into a private money loan agreement.

Sounds like you're in the perfect spot.

I have found quite a few templates from various sources but in my experience, they have all been either too detailed and lengthy or far too vague and general to really help in any way but this one looks to be the perfect balance between being thorough and not being overly detailed and lengthy.

@Caleb Heimsoth That's perfect!

I spoke to seller last night and this is the information i was given about the home Move in ready Put down Brazilian cherry laminate floors New AC unit Hot water tank (big one) Breaker box replaced and updated Updated stove Had water leak water leak is fixed but water damage Tenant will be out by the 28thRent potential $750 Potential offer of $55k Step grandfather built the home Well maintenenced White shed doesn't leak at allRed barn fixer up Garage doesn't leak.

While the quality of these flappers has improved over time, people will toss those bleach tablets into the tank which really chew them up.  

You know, what you have sounds pretty perfect. 

Perfect!