Be prepared to deal with that by getting ready to close through your own title company.

I didn’t know that I was joining a community that would prepare beginners for tenants that would probably never slam a door in there face...I don’t have 15+ years in real estate investing...

You would have to prepare a note, amortization table, etc, etc.  

I'm preparing for # 1, but hopeing for # 2.

You must constantly have your finger on the pulse of your market, and more importantly, you need to be prepared to change when your market changes.

I will need to give the insurance agent the name of the lender so that he'll be insured in case of any type of liability-Once I have the policy, have it send (along with the Title Policy) to the lender's attorney, so she can prepare the loan documents.Step 14: Close the Deal-At closing, I'll sign a Closing Statement showing all the fees involved in the transaction (for attorneys, title insurance, survey, etc.)

How do I prepare the purchase agreements?

Here are some random ideas...If appraisals were prepared for you by the sellers, I'd seek a second opinion---I'd try to get a replacement cost appraisal to determine how close you are to cost on this particular deal.

http://www.refinisherswarehouse.com/refinishing_coatings_glaz_weld.htm "The Advanced Molecular Bonding System Found Exclusively at Refinishers Warehouse.Current (now outdated) methods of preparing bathroom and kitchen surfaces for re-coloring by etching with acids and sanding are dangerous, time-consuming, expensive . . .and they can lead to microscopic pores in the prepared surfaces that virtually guarantee eventual failure of the new surfaces due to blistering and loss of adhesion.Refinishers Warehouse Glaz-Weld is a molecular bonding agent.

But I have been educating myself through people, books and YouTube to help better prepare myself.