right now I just have my agent and my financial advisor at my bank, should I build a relationship with a lawyer before hand and find a house inspector as well ?

One 2 Bd apt. and two houses, 5 bed's each.Financing Approach:80% Bank20% 10% down payment10% seller financing - terms to be negotiatedAnnual Financials:-5% vacancy (the market is emerging and vacancy is very low - we know this because we own a 4-unit in the same area, purchased from the same seller)-Rent roll: $55,800 - can be pushed up by $4,800 conservatively after rehabbing-Property Taxes: $4,277 -Insurance: $1,619-Maintenance / Capex: $11,160 (projected - 20% of rents)-Water / Sewer / Utilities: $6,200-Property Management: $3,600 In summary:At purchase:-$55,800 gross income-$21,903 total expensesPro-forma:-$60,600 gross income-$22,529 total expenses We want to get your thoughts on this deal.

Financial freedom is when the income is generated without you having to spend time earning the income.

I am a big, big fan of improved, beefed up, yet lawful landlord notices. 

Follow it up with research.After you have studied, met connections through meet ups naturally, and got your self financial sound, start to look for investments.

And the person taking the financial risk should get the greater share of the reward.

If the tenant caused $3,000 in damages and you don't have time to fix it up before closing, demand the Seller provide you the funds to make the improvements after closing.

However, we'd like to cancel the contract as interest rates have risen and it doesn't make financial sense anymore.

I support her financially, basically.

Our LTV is less than 50% ( yes no risk at all for the bank, and we have top credit score.We already paid the appraisal, environment fee, wasted countless hours etc...The texts in LOI: Financial covenants:-- Min DCR based on actual rents for the first trust deed of 1.25:1.00 based on a 25 year amortization by the end of 2018.And in the loan doc---Property is to maintain a 1.25:1.00 Debt Service Coverage Ratio, tested annually.We would not have paid the fee and sign the LOI, had he included the phrase tested annually.Please understand that the loan  will be for 10 years long, and we are very confident that we will always have fund for the monthly mortgage payment.