Most standard agreement's have a clause similar to the one above.

The area is more C+, bjut I'd never recommend buying a property with tenants in place unless there is (a) a strong and documented record of timely rental payment; (b) you have the opportunity to speak to the tenant about the condition of their unit and the property in general prior to the purchase; (c) you run a thorough background screening on the tenant to make sure they will pass your standards for a resident.Agents often seek to sell properties when they should strive to build relationships by offering good investments.

Do you have any responsibility for the warranty (deductibles, labor charges, misc. material/parts charges)? 

Should I build a standard notice for late rent?

Is there I way I can deduct rental losses from 2016 against rental income in 2015?

The standard Cap Rate formula isNOI / Purchase priceergo, mathematically, a NEGATIVE CAP RATE IS IMPOSSIBLEassuming one does not buy into a negative NOI (sheeze)

Most standard realtor PSAs can be found online.  

What are some other 'perks' in an investment contract the private money lender will look for or consider standard?  

Legally, you must be careful with this because you can't necessarily turn someone away "because you think they can't afford it", but if you have written standards, this will give you the leniency you need to weed out poor tenants.Obviously seek out an attorney on this. 

In that case I keep the receipts and periodically give him an update on what the total spent is so that he knows to deduct it from our price for that portion of the work.