I don't know.But that's the sort of thing you MUST research.

I live in Missouri and the "dream" is to hold an active license for at least a year, become a broker, and expand from there which sort-a-kinda explains why I'm wanting to learn and get experience with as many real estate related things as I can right now.

The catch is he wants 10g extra for this "turnkey" package - sort of like he's selling his former business to me, on top of the price of the actual duplex.

I am thinking of forms like:-Purchase agreements-Title Insurance-Property mgmt agreements-Closing documents-Anything & everything else you can think of...While I'm still early on in my journey and don't have a bunch of properties to catch up on, I want to try to get things in order and sort everything out.  

3)What is the best way to handle the cash buyer backing out of deal while it is in escrow to protect myself from any type of law suit of any sort?

I speak to this with the great divide in mind - cash flow or appreciation - the REI mind/body problem so to speak. 

With that being said I am located in the Orlando area and would like to extend a helping hand to any and everyone doing any sort of rehab projects.

Also, you want to add this filter because most absentee owners would have experienced some sort of issue with a tenant or a problem with the property within the first three years, which will allow you to negotiate your purchase price down.

It took them 2 years to build their home from being given all sorts of grief by water/sewer, zoning and codes.

Does renting by the room tend to be more profitable in this sort of student rental market?