Purchase Price (November, 2011): 85,000$Sales Price (September, 2015): 139,000$**Total Rehab Costs: 9300$**=========================Fresh Carpet: 2000$Appliances: 3000$Paint: 500$Countertops: 400$Staging Materials: 400$Fixtures: 500$Electrical wiring: 200$Plumbing Work: 800$Doors / garage doors: 600$Miscellaneous supplies: 500$Fence Work: 400$==============================**Total Holding Costs: 2 months - 2000$****Total Closing Fees: 12,500**==========================================Realtor Fees: 9000$Buyers cash in lieu of repairs cost: 3500$===========================================Rehab + Holding Costs + Closing Fees: $23,800Profit: 30,200$Anyway, just wanted to share that with ya'll, it was a very unfortunate circumstance, it's been a very rough couple of months, but just trying to see the light at the end of it all.We'll be closing on it this week, just thought I'd share. 

So we're supposed to find out details about what's going on in their life circumstance, what their true pain point is for selling their house.

I'm wondering if there's any additional limitations I could add in the lease to protect myself against unforeseen consequences?

Facts and circumstance determine for me.  

It's always best to ask for advice here on BiggerPockets on any deal that has some special circumstance like this one (occupant/renter) BEFORE you pull the trigger.  

In this particular case, there will be a lot of value added in moving to market rents as an owner-occupant, so it might really make sense, and $500K sounds like a pretty good deal for a triplex in West Oakland, depending on the circumstances.

Rather, use those circumstances to help build our foundation, enhance your problem solving skills and expand your knowledge to grow as an investor.

I had a small stale second, originally 10K I believe, I just let it sit, I knew the borrowers and their circumstances and knew they wouldn't be going to court over the matter.

It sounds like we are in a similar circumstance. 

BIG ONE HERE.Our state, (Calif) has the following ruling on deposits, 10% or $1000, whichever is LESS.Our state also has a clause for requiring contracts, I believe it to be they must be in writing when over $600, verbal contracts for less must include 3 parties.I've seen handwritten quotes I can barely read, make sure you know the extent of the job, and potential unforeseen issues.Fires, (electrical) don't just happen, they are created, and often times take awhile to show themselves.A good tradesman is worth his weight in Gold, we are all just trying to make a living, if you want cheap, you'll get cheap.