You can also take out lines of credit on your current investments in order to reach the down payment on your next properties.

This is not only for the reasons outlined by @Darius Ogloza above which I agree with 100%, but also because I've dealt with OOS tenants on units paying 1,000 for a small house.

I think outlining that will help get more people excited about working together.

Reduced Liability: By having a pet addendum, you can outline specific guidelines for pet behaviors, including who is responsible for any damage or injuries caused by the pet.

Also, ensure your lease agreement complies with local and state laws by clearly outlining tenant responsibilities, rent payment terms, late fees, and maintenance procedure and reach out to property management companies if you're not aiming to self manage your property. 

@Dan Perrott @Curtis Bidwell I called and spoke with my insurance company today.I am choosing to not require tenants to have insurance but will insert language outlining where my coverage ends and their liability begins.Thanks for your input.

You CAN outline how close your property is to nearby bases though, which might attract military tenants to apply. 

Thanks Travis Paez In the scenarios you outline of two higher dollar options with some form of seller financing, does that rely on the initial purchase being cash?

Any outlines that are already premade or you wrote up your own? 

But if you are creating an agreement to outline how to handle future issues (ie one person wants to sell etc) then you should have a legal document drawn up.