I would expect the exit value to be more than the purchase price, repairs, holding and closing costs.

What are some contingencies and exit clauses to include in my PS and assignment contract to protect myself?

What is your exit plan? 

What's the exit strategy?

Is there a secondary exit if the prison makes a change?

Sec.) as an exit.

Also this is a great business model for investors, it gives them the term to fit their exit strategy and the profit margin they desire, it gives them a long term tenant that will take better care of the home because the tenant/buyer feels like it is their home.Also there are many sources to find landlords for free, and only market to those who may be interested in hearing from you.Good Luck!

The easiest way to insure this is carefully defining your exit strategy and understanding the most you might be willing to pay.I have seen so many at auction bidding items up past a point that make sense simply because they got caught up in the moment.

He informed me that even if I have an exit strategy that I could still be held liable for the purchase if I don't have a buyer lined up.

Ryan if the current appraised use was based on residential but I knew with my experience that the house was sitting on land I could divide and sell or change to commercial use and sell then I can see the value.In this way my exit is different than purely on how the property performs with current cash flow.