Typically we would make this type of contingency with a kickout clause...the time for notification and performance to remove the contingency. 

If you plan on growing and making this a business, start with property management software ASAP.   

Do you see more people selling their houses on their own or will it be business as usual once the new post NAR ruling policies go into effect this summer?

While it would impact some business plans more than others,  its probably possible to function with 5-10% a year rent increases allowed and vacancy decontrol,   but if we get the more extreme variety like what the far left wants  (inflation or less for increases,   no vacancy decontrol,  etc)  it will be bad.    

We've been doing this and wholesaling mobile homes for the past 5 years and I believe we are on the verge of expanding our business into owning a park soon!

They wouldn’t tell us the business they do.

If they liked the apartment, they could apply (pay the application fee per adult, and complete the application), and I would perform screening, and provide an answer within 24-48 hours.This process allows for a few different filters.

Personally, I’d never consider that option for multiple reasons: 1) you cannot properly dispose of your own property as you can’t rent it by yourself, 2) the price is inflated as they make you pay for the convenience, 3) the performance of your unit is completely dependent on the performance of the building as a whole and the performance of the management, 4) property management is extremely expensive and they’re going to be the ones making most of the money while you take all the risks and 5) you cannot get rid of the property managers if they don’t perform.

If this is a business, it needs to be profitable, just it need to be self sustainable and generate cash flow.

Does having the capacity to pull a business loan or business credit card benefit strategy in any significant way?