Maintaining = asset management :)Just making sure repairs are done when needed, be sure of any safety hazard, and the likes.You and your partner should open up the firm, but do not collect rent until your partner have the license.

Right now, I am taking more time to brush up  and organize / automate our personal finances and build more cash cushion / safety net.  

There’s quite a bit you can learn just by physically looking at the property, and when something looks wrong it usually is.For occupancy I’m typically looking at fire/life safety concerns and non-permitted work.

Besides a home inspection clause, what other "safety nets" can I use to protect myself to be able walk away?

I calculate: MPP= ARV-FC-profit-rehab-safety netie 66k=120k-12k-20k-20k-2k66k=MPP120k=resale value12k= fixed cost when using no mortgage20k= my desired profit20k= a very very rough estimate of rehab on a "level 2" heavy cosmetic rehab2k= just because I am going to make mistakesRemember, this is not about a particular deal it is about what $range$ of deals I should be intersted in if i want to be ALL IN for no more than 100k All in all my conclusion boiled down to purchasing for around 55% of ARV and my MPP being 66k and under. any thoughts and notes are much appreciated!

Be patient  and select the right person for your home. 

This gives you more of a safety net and more purchasing power.You can probably cover housing costs, but have you figured out how much you need to live on and what capital it will take to get there?  

I am new to BP so please be patient with me lol.  

Music programs & assemblies to prepare for, huge kitchen & bath remodels homeowners are waiting on, patients waiting on hold for their PT appts...  

Negotiating patients dispersents to contractors and doing any of work your capable of yourself.I was in your shoes almost a year ago and have started the process of refinancing out of fha so when my year of being an owner occupant is fulfilled I can rent it out and repeat the process of another low down payment primary residence .